It’s a Lucky 13 for borrowers. For the 13th time this year, 30-year fixed-rate mortgage rates set a new record low – this time falling to 2.72 percent, according to a Freddie Mac’s Primary Mortgage Market Survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point for the week, down from last week’s 2.84 percent and last year’s 3.66 percent.The 15-year fixed-rate mortgage averaged 2.28 percent with an average 0.6 point, down from last week’s 2.34 percent and last year’s 3.15 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent with an average 0.3 point, down from last week’s 3.11 percent and last year’s 3.39 percent. “Weaker consumer spending data, which accounts…
Positive Covid-19 vaccine news drove mortgage rates up ever so slightly this week, but they remained near historically low levels, Freddie Mac announced Thursday in its weekly Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.84 percent with an average 0.7 point, up from last week’s 2.78 percent and last year’s 3.75 percent.The 15-year fixed-rate mortgage averaged 2.34 percent with an average 0.6 point, up from last week’s 2.32 percent and last year’s 3.20 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.11 percent with an average 0.4 point, up from last week’s 2.89 percent and last year’s 3.44 percent. “Mortgage rates jumped this week as a result of positive news about a Covid-19 vaccine,” said Sam…
If you’re wondering if mortgage rates can go any lower, the answer is “yes” – at least for another week. The average 30-year fixed-rate mortgage dropped to a record 2.78 percent this week, according to the Primary Mortgage Market Survey released by Freddie Mac on Thursday. It is the lowest rate recorded in the survey’s history, dating to 1971. The survey found: The 30-year fixed-rate mortgage averaged 2.78 percent with an average 0.7 point, down from last week’s 2.81 percent and last year’s 3.69 percent.The 15-year fixed-rate mortgage averaged 2.32 percent with an average 0.6 point, unchanged from last week and down from last year’s 3.13 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.89 percent with an average 0.3 point,…
Mortgage rates increased this week ever so slightly as they continue to hover at historic lows during the Covid-19 pandemic, Freddie Mac announced Thursday in its weekly Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.81 percent with an average 0.7 point, up slightly from last week’s record 2.80 percent and down from last year’s 3.78 percent.The 15-year fixed-rate mortgage averaged 2.32 percent with an average 0.6 point, down from last week’s 2.33 percent and last year’s 3.19 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.88 percent with an average 0.3 point, up from last week’s 2.87 percent and down from last year’s 3.43 percent. “The record low mortgage rate environment is providing tangible support to…
Mortgage rates have hit yet another record low. Freddie Mac announced Thursday that the 30-year fixed-rate mortgage averaged 2.80 percent for the week, the lowest rate in the history of the Primary Mortgage Market Survey dating back to 1971. The survey found: The 30-year fixed-rate mortgage averaged 2.80 percent with an average 0.6 point for the week ending October 22, down from last week’s 2.81 percent and last year’s 3.75 percent.The 15-year fixed-rate mortgage averaged 2.33 percent with an average 0.6 point, down from last week’s 2.35 percent and last year’s 3.18 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.87 percent with an average 0.3 point, down from last week’s 2.90 percent and last year’s 3.40 percent. “Mortgage rates remain…
Mortgage rates dropped to 2.81 percent this week, another new record and the 12th straight week rates have stayed under 3 percent, Freddie Mac reported Thursday in its weekly mortgage market survey. The survey found: The 30-year fixed-rate mortgage averaged 2.81 percent with an average 0.6 point for the week ending October 15, 2020, down from last week’s 2.87 percent and last year’s 3.69 percent.The 15-year fixed-rate mortgage averaged 2.35 percent with an average 0.5 point, down from last week’s 2.37 percent and last year’s 3.15 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.2 point, down from last week’s when it averaged 2.89 percent and last year’s 3.35 percent. “Low mortgage rates have become a regular…
Mortgage rates are expected to remain near record lows through next year and home prices are expected to climb, though not as quickly as this year, according to Freddie Mac’s quarterly housing forecast. The forecast predicts: The average 30-year fixed-rate mortgage is expected to be 3.2 percent in 2020 and 3.0 percent in 2021. Currently, rates sit at 2.87 percent.House price growth is expected to increase to an annual rate of 5.5 percent in 2020 before slowing to 2.6 percent next year.Home sales are expected to increase in 2020 to 6.2 million homes and decrease in 2021 to 6.1 million homes.Purchase originations are expected to increase to $1.414 trillion in 2020 and $1.445 trillion in 2021.Refinance originations are expected to…
No news is good news for borrowers. The 30-year fixed rate mortgage averaged 2.87 percent for the week, virtually unchanged from the week before and barely above the record low of 2.86 percent in mid-September, according to Freddie Mac’s weekly survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.87 percent with an average 0.8 point, slightly down from last week when it averaged 2.88 percent and well below last year’s 3.57 percent.The 15-year fixed-rate mortgage averaged 2.37 percent with an average 0.7 point, slightly up from last week’s 2.36 percent and last year’s 3.05 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.89 percent with an average 0.2 point, down from last week’s 2.90 percent and last year’s…
Mortgage rates are sitting below 3 percent for the 10th straight week, Freddie Mac reported Thursday in the weekly Primary Mortgage Market Survey. Freddie’s survey found: The 30-year fixed-rate mortgage averaged 2.88 percent with an average 0.8 point for the week ending October 1, down from last week’s 2.90 percent and 3.65 percent a year ago.The 15-year fixed-rate mortgage averaged 2.36 percent with an average 0.7 point, down from last week’s 2.40 percent and last year’s 3.14 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.2 point, unchanged from last week and down from last year’s 3.38 percent. “As a result of low mortgage rates that have stayed under three percent since July, the housing market has…
Mortgage rates ticked up slightly for the week but remained near historic lows, Freddie Mac announced Thursday in its Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 2.90 percent with an average 0.8 point for the week ending September 24, up from last week’s 2.87 percent and last year’s 3.64 percent.The 15-year fixed-rate mortgage averaged 2.40 percent with an average 0.7 point, up from last week’s 2.35 percent and last year’s 3.16 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.2 point, down from last week’s 2.96 percent and last year’s 3.38 percent. “Mortgage rates set several record lows over the last few months and have remained low into September,” said Sam Khater, Freddie Mac’s…
