Mortgage rates continue to rise, with the 30-year fixed rate reaching 7.05% today. This marks the fifth consecutive weekly increase and brings rates to their highest level since early August.

The impact is being felt strongly by first-time homebuyers, who now make up just 24% of the market – the lowest share in 43 years. Rising rates have made affordability a major hurdle, keeping many prospective buyers on the sidelines.

Despite this, there was a 7.4% jump in pending home sales in September when rates briefly dipped to around 6.08%. This showed how even a slight decrease in rates can spur buyer interest.

With rates back up, it’s uncertain if this momentum will hold. As we move toward the end of 2024, affordability challenges and market volatility continue to shape the housing landscape, making it a tough environment for many potential buyers.

In Mesa County

There are currently 653 active homes on the market in Mesa County. This is a 2% increase compared to a week ago.

The average sold price YTD is $456,437 and the median sold price YTD is $400,000.

Mortgage Rates Today

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