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For the sixth consecutive week, mortgage rates inched higher, continuing to climb from all-time lows, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage—the most popular among home buyers—has now climbed a half percentage point since last month. 

A strengthening economy and positive employment report this month prompted fixed-rate mortgages to climb higher this week, says Frank Nothaft, Freddie Mac’s chief economist. 

Freddie Mac reports the following national averages with mortgage rates for the week ending June 13: 

• 30-year fixed-rate mortgages averaged 3.98 percent, with an average 0.7 point, rising

• NEW LISTING INVENTORY UP 16%

• PENDING SALES UP 10%

• CLOSED SALES UP 22%

• PRICES UP 13% YTD

  WELL-PRICED HOMES CONTINUE TO DRAW MULTIPLE OFFERS AND SELL AT A BRISK PACE AROUND WESTERN WASHINGTON AS BUYERS REACT TO INCREASES IN INTEREST RATES AND ASKING PRICES.

Northwest Multiple Listing Service reported double-digit gains in several key indicators it tracks for the 21 counties in its service area. Compared to a year ago, the number of new listings climbed 16 percent, pending sales increased about 10 percent, closed sales jumped nearly 22 percent, and prices rose more than 13 percent. Despite gains in listing activity, inventory remains tight.

Commenting on the latest report, brokers said the fast pace is

We are very happy to welcome Kim Waldbaum to The Cascade Team Real Estate. Kim has spent years focusing as a real estate investor and is joining The Cascade Team to work with her own investment portfolio and also with clients in the real estate investment arena. We are very happy to have someone with her background and skill set join the Team! Kim lives and works in Washington State and serves the greater Seattle area and Eastside.

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Cascade Team Real Estate agents spend their time serving customers, studying the market and touring homes, so they can provide the most accurate housing market data for their client. This helps you better understand the competitive environment,