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.

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