Here is your real estate market update and the top real estate news for Wednesday, March 19, 2025:
Top Real Estate News (March 19, 2025):
- Existing Home Sales Rose in February: According to the National Association of Realtors, existing home sales increased by 3.1% from January, driven by slightly lower mortgage rates and a rise in housing inventory. However, sales remain lower than a year ago.
- Mortgage Applications Climb for Third Straight Week: Mortgage Bankers Association data shows a 1.9% increase in purchase applications last week, signaling growing buyer interest as spring approaches.
Mortgage Rates (March 19, 2025):
- 30-Year Fixed: 6.86%
- 15-Year Fixed: 6.20%
- Jumbo 30-Year Fixed: 7.02%
10-Year Treasury Yield (March 18, 2025):
- Closed at 4.25%
(Treasury yields edged lower as investors remain cautious ahead of the Federal Reserve’s policy meeting.)
In the competitive real estate market, staying informed is crucial for both buyers and sellers. By understanding mortgage trends, housing market shifts, and the broader economic environment, individuals can make well-informed decisions. This knowledge can lead to more effective pricing strategies, better investment timing, and smoother transactions. For buyers, tracking mortgage rates can help them secure more favorable terms, while sellers who know their local market trends can set more competitive listing prices. Overall, staying updated on these topics not only helps real estate professionals serve their clients better, but also empowers everyday buyers and sellers to achieve their property goals.
See you tomorrow for more real estate news!
Chris
