Prices increase while new listings decrease in Chattanooga region
In October, mortgage rates increased slightly from the three-year lows seen in September. While the Federal Reserve reduced the federal-funds target rate by .25%, this decline was widely expected and largely factored into mortgage rates already, which are still approximately 1% lower than this time last year. Fannie Mae is predicting that continued low rates, and possibly lower rates, are expected in 2020.
For more details, see “October 2019 Market Statistics” from the Greater Chattanooga Association of REALTORS®.