At QuickDraw Fund Control, we like to keep tabs on the trends that are affecting builders in the markets we serve. Some of the biggest news in 2022 has been the increase in mortgage interest rates. The average 30-year fixed mortgage rate is up by more than two percentage points since the beginning of the year, a fact that is seriously undercutting the purchasing power of homebuyers across the country. After spiking to well over 6% in June, rates have again shifted upward. According to data from S&P Global, the average interest rate for a 30-year fixed mortgage in October 2022 is 7.16% to 7.26%.Read more
September 12, 2022
QuickDraw Fund Control
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The year 2020 ended with nearly the lowest mortgage rates on record, offering hopes of cheap financing for buyers. The week ending Dec. 31 closed with a 30-year-fixed-rate mortgage averaging 2.67%, slightly up from the new record low of 2.66% set the week prior.Read more
January 8, 2021
QuickDraw Fund Control
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