Freddie Mac reported a small jump in the 30-year fixed mortgage rate to 6.34% on Friday from 6.31% a week earlier, which is still less than the year-earlier rate of 6.40%. Meanwhile, the one-year adjustable mortgage rate dropped slightly to 5.65% from 5.66% over the same period. Freddie Mac chief economist Frank Nothaft expects the Federal Reserve’s decision to cut the federal-funds rate to 4.75% to “dissipate some of the volatility in short-term interest rates.”
The Nashville Remarkable Homes Team agrees and we further believe that the strong Nashville economy will continue to buck the national trends. Our home values continue to rise slightly and lenders continue to process loans for our financially resilient city.
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