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…
It’s another record. Rates for a 30-year fixed-rate mortgage tumbled to an average of 3.13 percent his week, the lowest rate since Freddie Mac started tracking them in 1971, Freddie announced Thursday. “Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood,” said Sam Khater, Freddie Mac’s Chief Economist. “However, it will be difficult to sustain the momentum in demand as unsold inventory was at near record lows coming into the pandemic and it has only dropped since then.” Freddie’s weekly survey for the week ending June 18 found: 30-year fixed-rate mortgage averaged 3.13 percent with an average 0.8 point, down from last week when it averaged 3.21 percent and last…
How low will they go? The 30-year fixed-rate mortgage hit a record low of 3.15 percent this week, Freddie Mac announced Thursday. It is the third time rates have reached record lows for the third time in the last few months. “These unprecedented rates have certainly made an impact as purchase demand rebounded from a 35 percent year-over-year decline in mid-April to an 8 percent increase as of last week—a remarkable turnaround given the sharp contraction in economic activity,” Freddie Mac Chief Economist Sam Khater said. The Freddie Mac report also found: The 30-year fixed-rate mortgage averaged 3.15 percent with an average 0.8 point for the week, down from last week when it averaged 3.24 percent and 3.99 percent a…
Mortgage rates rose ever so slightly this week, reflecting nearly a month of stable rates after swings in the early days of the coronavirus pandemic. The 30-year fixed-rate mortgage averaged 3.33 percent, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday. “Mortgage rates have stabilized over the last few weeks as the market searches for direction in the fog of economic data,” said Sam Khater, Freddie Mac’s Chief Economist. “While financial markets initially rallied on the news of Federal Reserve support and are improving due to the Senate’s passage of a new small business stimulus, we continue to see a deep economic contraction amidst uncertainty about the recovery formation.” The survey found: The 30-year fixed-rate mortgage average of 3.33…
Mortgage rates dipped slightly this week and are once again approaching historic lows, Freddie Mac announced Thursday. The 30-year fixed-rate mortgage averaged 3.31 percent. That’s down from 3.33 percent the last two weeks, according to Freddie Mac’s Primary Mortgage Market Survey. Rates reached 3.29 percent the week of March 9. “Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening,” Freddie Mac’s Chief Economist Sam Khater said. The survey also found: 15-year fixed-rate mortgage averaged 2.80 percent with an average 0.7 point, up from last week when it averaged 2.77 percent. A year ago at this time, the 15-year fixed-rate mortgage…
