For the third consecutive week, fixed-rate mortgages edged down, lowering borrowing costs for buyers and refinancers. So, now is the time to start your loan and home search!
Freddie Mac reports the following national averages for the week ending Jan. 19:
- 30-year fixed-rate mortgages: averaged 4.09 percent, with an average 0.5 point, dropping from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 3.81 percent.
- 15-year fixed-rate mortgages: averaged 3.34 percent, with an average 0.5 point, falling from last week’s 3.37 percent average. A year ago, 15-year rates averaged 3.10 percent.
Source: Freddie Mac