Good Monday Morning!

As the nations economic condition worsens with the latest chapter of bank failures and the governments decision to bail out failed banks, the ability to purchase homes also worsens. With inflation number remaining high, mortgage interest rates continue to increase. This makes home affordability even tougher. We have all hoped that the trend of increasing mortgage rates would stabilize, but until the lid is put on inflation, this is not going to happen. The following is an article from "Realtor.com" that talks about the current situation with mortgage rates.

The numbers: Mortgage rates are up for the fourth week in a row.

The 30-year fixed mortgage rate hit 7.1%, up from 6.94% on Wednesday, according to the latest data of mortgage brokers released Thursday by Mortgage News Daily.

Mortgage News Daily says its index is driven by real-time changes in actual lender rate sheets.

Separately, the 30-year fixed-rate mortgage averaged 6.65% as of March 2, up 15 basis points from the previous week, Freddie Mac also said Thursday.

The 30-year was last at this level in mid-November 2022. One basis point is equal to one hundredth of a percentage point.

Last week, the 30-year was at 6.5%. Last year, the 30-year was averaging at 3.76%, Freddie Mac said.

Separately, the 30-year fixed-rate mortgage averaged 6.65% as of March 2, up 15 basis points from the previous week, Freddie Mac also said Thursday.

The 30-year was last at this level in mid-November 2022. One basis point is equal to one hundredth of a percentage point.

Last week, the 30-year was at 6.5%. Last year, the 30-year was averaging at 3.76%, Freddie Mac said.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

1636 Fetters Loop, Eugene, OR 

Price: $265,000    Beds: 2    Baths: 1.5    SqFt: 1118

This move-in ready townhouse has been freshly updated w/ new interior paint & new carpet. Spacious kitchen w/ ample counter space & cabinetry. Two large bedrooms and a full bathroom upstairs. Laundry & half bathroom are on the main level. Enclosed p...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!