Here’s a quick digest of what happened in real estate finance last month:
+ Mortgage rates remain historically low at 3.18% as of April 1st. However, the upward trend in rates may be a reason that homebuyer demand has dropped from 25% above pre-COVID levels at the start of 2021, to 8% above pre-COVID levels today.
+ The increase in mortgage rates from the beginning of the year is adding an average of $93 per month to homebuyers’ mortgage payments — roughly $1,100 per year.
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