How have mortgage rates performed ahead of next week’s data?

Couple getting good news | mortgage rate news

Mortgage rates are at their lowest point since September

This week marked the 4th consecutive week that mortgage rates have seen a decline, and they have reached their lowest point since September. The national average for a 30-year, fixed rate mortgage ended the day at 6.33%, down from the 6.49% mark the week prior.

While this is likely a welcome relief to home buyers, we’ll have a lot better idea about the direction of the mortgage rate market next week. Inflation metrics and the Federal Reserve meeting will likely provide the guidance the market has been lacking for a few weeks.

MarketWatch looks into the most affordable metro areas

Florida, Tennessee, the Carolinas, and Texas were among the hottest markets for real estate in 2022, according to Marketwatch. But which area is viewed as the most affordable to rent or own a home? The Oklahoma City metro area came in first in their predictions for the most affordable market in the next year.  

What does $7 million buy in Big Sur, CA?  

An impressive residential design from architect Mickey Muennig is looking for a new owner. The four-bedroom, four-bath home has only had two owners since its completion in 1982, and just hit the market with a price tag just shy of $7 million.

Named ‘Casa Luna’, this property comes in at 3,000 square feet of space and sits on a 5-acre lot in an oceanfront community. It has three levels, along with indoor/outdoor spaces including multiple patios and terraces. It’s clear that the architect was influenced by organic architecture, and is meant to compliment the surrounding environment and live in harmony with the natural setting.

There’s also a detached structure that could work as an art studio, and plans for guesthouse are included in the sale.

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