Salt Lake City Real Estate News
Salt Lake City
U.S. Mortgage Rates Ticked Down in Late January
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.13 percent as of January 26, 2023.
U.S. Mortgage Originations to Decline 9 Percent in 2023 to $2.05 Trillion
Based on new projections from the Mortgage Bankers Association, total U.S. mortgage origination volume is expected to decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. Purchase originations are forecast to decrease 3 percent to $1.53 trillion next year, while refinance volume is anticipated to decline by 24 percent to $513 billion.
U.S. Tenants Gravitating to Higher Quality Offices in Response to Hybrid Work
According to global property consultant CBRE, there is a "flight to quality" playing out across 12 major U.S. markets as office-using companies adapt their workplaces for hybrid work.
Austin, Raleigh and Other Sun Belt Metros Lead the U.S. in Homebuilding
Based on a new report by national broker Redfin, Sun Belt metros in the U.S. are leading the way when it comes to building new homes--and they need them, with scores of buyers moving in from other parts of the country, causing inventory to dwindle and prices to surge.
