Jan. 28, 2021
Mortgage rates fell further this week, following the trend of the 10-year Treasury yield. The 30-year fixed mortgage rate dropped to 2.73% from 2.77% the previous week. The Feds reassured us yesterday that it will keep interest rates and its bond - buying program unchanged.
Home sales activity rose to its highest in 14 years in 2020, contributing significantly to the recovery of the U.S. economy. This winter may also be one of the best winters for the housing market. Home sales activity slows down in the winter as the slowest months of activity are November, December, January and February. As the activity in the slow months is higher than last year's activity, this should suggest that existing-homes sales activity might be busier during he peak season as well. National Association of Realtor is forecasting existing-homes sales to rise more than 10% in 2021.