Mortgage Rates

FILE - In this Tuesday, June 9, 2015, file photo, a "Sold" sign is displayed in the yard of a newly-constructed home in the Briar Chapel community in Chapel Hill, N.C. On Thursday, Sept. 29, 2016, Freddie Mac reports on the week's average U.S. mortgage rates. (AP Photo/Gerry Broome, File)

Gerry Broome

The so-called "silent generation" — those ages 65 to 75— bought homes in the past year with a median size of just 1,800 square feet, about 220 square feet smaller than the homes they sold. But that smaller new home still cost more. These retirement-age buyers paid a median of $250,000, nearly $30,000 more than the home they sold. In some cases, the higher purchase price likely reflects the profits from the sale of their previous home, in other cases a desire by upscale buyers for luxury finishes and amenities.

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