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  • Writer's pictureChris Mackey

BlueBid Buzz: February 22

The Buzz is a regular summary of housing market news and data driving our decision-making at BlueBid.

Here's the Buzz for the week of February 22, 2024…

  • The average 30-year fixed rate mortgage jumped from 6.87% to 7.06% last week, according to CNBC. Rates continue to suppress demand, as applications for new mortgages fell 10% for the week and 13% year-over-year.

  • According to a new survey from, the "magic rate" that will get the housing market back on track is somewhere in the range of 5%. 

  • The time to buy a home has never been quite right for millennials, and Newsweek explores how it has led to massive pent-up demand across the United States - even as the read on immediate-term demand (new mortgage applications) shows weakness.

  • Yahoo Finance digs into a growing trend that is reshaping real estate dynamics: investors snapping up the country's most affordable homes. 

  • As of this week, BlueBid has established agent partnerships in 99% of zip codes across the country. While our platform allows users to test the market privately and without listing on the MLS, our own historical data and forward-looking surveys show ~90% of users are likely to work with an agent when they transact. There's never an obligation to work with a Bluebid partner, but you can request a complimentary market report when you claim your home or via your homeowner dashboard. 

Have a great week.

Disclaimer: Views expressed here are my own and not the views of my coworkers or anyone else. I am not a financial advisor, investment advisor, or housing expert. I’m just a guy who cares deeply about saving the American Dream of homeownership.


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