Metro housing market shows signs of cooling, no mortgage rate spikes in Q4 2021, experts say normantranscript.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from normantranscript.com Daily Mail and Mail on Sunday newspapers.
Apr 4, 2021
Pictured is a lot that recently sold in Norman. Thirty year mortgage rates are on the rise. Kyle Phillips / The Transcript
The rate for a 30-year mortgage is increasing to the highest level since June, but that doesnât seem to be slowing the market in Norman, according to local experts.
According to weekly data released by federally chartered home loan mortgage corporation Freddie Mac, 30-year fixed-rate mortgages averaged 3.18% for the week ending April 1, after dropping to a record low 2.65% in January.
Rob Schaerer, broker and associate of Dillard Group Real Estate and 360 Realty, said a client of his recently locked in at 3%, and the rate one actually receives depends on the area, among other factors.
Jan 9, 2021
A house for sale on East Frank Street is pictured. The number of homes for sale in the U.S. reached a record low last month. Kyle Phillips / The Transcript
NORMAN â Recent data from a national real estate listings website reveals record lows in home listings across the U.S., a trend that holds true for the Oklahoma City metro area.
A Dec. 2020 housing report released by Realtor.com this week shows the number of homes for sale in the U.S. dropped under 700,000, the lowest amount ever recorded. Compared to December 2019, the number of homes for sale nationwide declined nearly 40%.