The 30-year fixed-rate mortgage averaged 6.87% as of March 21, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). Last week, the mortgage rate averaged 6.74%; one year ago at this time, it was at 6.42%. The 15-year fixed-rate...
Existing home sales during February spiked by 9.5% from January to a seasonally adjusted annual rate of 4.38 million, according to new data from the National Association of Realtors (NAR). This represented the largest monthly increase since February 2023. However, on...
A total of 308,922 single-family homes and condos were flipped in the U.S. during 2023, according to data from ATTOM. This represented a 29.3% plummet from the 436,807 total in 2022, marking the greatest annual decline since 2008. Flips accounted for 8.1% of all 2023...
A new data study from WalletHub that analyzed mortgage debt levels among the states between the third and fourth quarters of 2023 has found Maryland as the national leader in percentage terms, with the average balance rising by 1.23% to $283,092. WalletHub noted that...
The developer Worthe Real Estate Group and the real estate investment management firm Stockbridge announced the close of a $475 million fixed-rate securitized mortgage to finance Second Century, the recently completed 800,000-square-foot office project leased to...
Destination XL Group Inc. (Nasdaq: DXLG), a retailer specializing in men’s Big + Tall apparel, announced the strategic hiring of Beta Agency, a commercial real estate brokerage, to help grow the company’s footprint. DXL’s expansion plans includes the...
Hits and Misses for the Real Estate Week of Aug. 10-14
