No new record this week.
The 30-year fixed-rate mortgage averaged 2.96 percent for the week – up slightly from last week’s record 2.88 percent, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday.
The survey found:
- The 30-year fixed-rate mortgage averaged 2.96 percent with an average 0.8 point, up from last week’s 2.88 percent and 3.60 percent a year ago at this time.
- The 15-year fixed-rate mortgage averaged 2.46 percent with an average 0.8 point, up from last week’s 2.44 percent and last year’s 3.07 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.4 point, unchanged from last week and down from last year’s 3.35 percent.
“Homebuyer demand remains strong, especially for those in search of an entry-level home where the improvement in affordability via lower mortgage rates has a material impact,” said Sam Khater, Freddie Mac’s Chief Economist. “Even with this week’s uptick, very low rates are providing a significant boost to the housing market that continues to hold up well during this time of uncertainty.”