What mortgage rates mean for home sales

Nashville 2019

Four weeks into 2019, the 30-year fixed mortgage rate is averaging right around 4.5-percent.  

The 15-year adjustable-rate is was also unchanged at 3.88-percent. 

According to Freddie Mac, mortgage rates are essentially at the same level as last spring. But a MarketWatch report shows the most recent home sales are roughly half a million lower over the same period.  

Last month’s pace of existing-home sales was the worst since November 2015.  
Forecasters expect the decline in home sales to moderate, or even reverse over the next couple of months. 

When News 2 asked Zillow economists about the trend, they told us they expect Nashville to be one of the hottest housing markets in 2019.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss

Community Calendar