Mortgage rates hit 6% and applications drop again – Robert Khodadadian

Halloween’s not until next month, but home buyers are already in for a fright: The average rate on a 30-year fixed mortgage has hit 6 percent for the first time since 2008. That’s about double what it was a year ago, according to data from the Mortgage Bankers Association, and portends a continued slowdown in the housing market. “Higher mortgage rates have pushed refinance activity down more than 80 percent from last year and have

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Residential Real Estate, Mortgage Rates The Real Deal New York Read More

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