HAR Report: “The Houston housing market showed resiliency again last month, coming through strong despite the brutal winter storm that caused widespread power outages, property damage and briefly held up transactions and showings,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “As we head into spring, we urgently need more listings to enter the marketplace or we risk having extremely limited inventory for consumers that want to buy a home now, especially with the prospect of rising mortgage interest rates.”
The 30-year fixed-rate mortgage rose above 3 percent for the first time in seven months last week. According to Freddie Mac, the 30-year fixed-rate average climbed to 3.02 percent. It was 2.97 percent a week earlier and 3.29 percent a year earlier. The last time it was above 3 percent was in July of 2020.