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…
It’s not a new record – but it isn’t far off. The 30-year fixed-rate mortgage averaged 2.87 percent this week, up ever so slightly from last week’s 2.86 percent, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.87 percent with an average 0.8 point for the week ending September 17, down from 3.73 percent last year at this time.The 15-year fixed-rate mortgage averaged 2.35 percent with an average 0.8 point, down from last week’s 2.37 percent and last year’s 3.21 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.96 percent with an average 0.3 point, down from last week’s 3.11 percent and last year’s 3.49 percent. “Despite the recession, the very…
Another week, another new record. The 30-year fixed-rate mortgage dropped to 2.86 percent this week, the lowest rate in history, according to Freddie Mac’s weekly Primary Mortgage Market Survey released Thursday. Freddie Mac has been tracking mortgage rates since 1971. The survey found: The 30-year rate dropped from 2.93 percent last week to 2.86 percent with an average 0.8 point. A year ago at this time, the average was 3.56 percent.The 15-year fixed-rate mortgage averaged 2.37 percent with an average 0.7 point, down from last week’s 2.42 percent and last year’s 3.09 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.11 percent with an average 0.2 point, up from last week’s 2.93 percent and last year’s 3.36 percent. “Mortgage rates have…
Mortgage rates increased slightly this week but remained under 3 percent for the sixth straight week, Freddie Mac announced Thursday in its Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.93 percent with an average 0.8 point for the week ending September 3, up from last week’s 2.91 percent and down from 3.49 percent at this time last year. The 15-year fixed-rate mortgage averaged 2.42 percent with an average 0.8 point, down from last week’s 2.46 percent and last year’s 3.00 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.93 percent with an average 0.2 point, up from last week’s 2.91 percent and last year’s 3.30 percent. “Mortgage rates have remained effectively flat or at near…
Mortgage rates dropped again this week, nearing the all-time record set earlier in August, Freddie Mac announced Thursday in its Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.91 percent with an average 0.8 point for the week ending August 27, down from last week’s 2.99 percent and 3.58 percent a year ago.The 15-year fixed-rate mortgage averaged 2.46 percent with an average 0.7 point, down from last week’s 2.54 percent and last year’s 3.06 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91 percent with an average 0.2 point, unchanged from last week and down from last year’s 3.31 percent. The lowest 30-year rate on record is 2.88 percent. “This year has been anything but normal and…
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…
After a week above 3 percent, mortgage rates in the United States dropped below that line for the second time in history as the 30-year fixed-rate mortgage averaged 2.99 percent, Freddie Mac announced Thursday. “It’s Groundhog Day in the mortgage market as rates continue to remain near historic lows, driving purchase demand over 20 percent above a year ago,” said Sam Khater, Freddie Mac’s Chief Economist. “Real estate is one of the bright spots in the economy, with strong demand and modest slowdown in home prices heading into the late summer. Home sales should remain strong the next few months into the early fall.” Freddie’s Primary Mortgage Market Survey found: The 30-year fixed-rate mortgage averaged 2.99 percent with an average…
