Spring Buying Begins and Rates are Holding Steady

Housing is set to smash records in February, with realtor.com® forecasting both the fewest days on market since the recession and the month's highest list prices—an early start to the spring home-buying season, says realtor.com Chief Economist Jonathan Smoke.
 
"The spring buying season is off to a booming start," Smoke says. "Not only is the season starting a month early, February is also expected to see the fastest-moving inventory in a decade, as well as the highest home prices the month has ever seen. Homebuyers, take note: This year is shaping up to be even more of a seller's market than last year."

Mortgage rates showed minimal movement this week, marking the fourth week in a row of negligible change, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate mortgage averaged 4.16 percent with an 0.5 point, a one point increase from 4.15 percent the previous week.