Mortgage Rates Take a Breather This Week!

Good News! Mortgage rates barely budged this week compared to the previous week, as the 30-year fixed-rate mortgage held its 4.19 percent average, Freddie Mac reports.

“The 30-year mortgage rate remained flat at 4.19 percent, starting the month 47 basis points higher than this time last year. Despite the uncertainty in the market, the pending home sales index increased 1.6 percent in December, up from a decline of 2.5 percent the month prior,” says Sean Becketti, Freddie Mac’s chief economist.”

Freddie Mac reports the following national averages for the week ending Feb. 2:

  • 30-year fixed-rate mortgages: averaged 4.19 percent, with an average 0.5 point, unchanged from last week. Last year at this time, 30-year rates averaged 3.72 percent.
  • 15-year fixed-rate mortgages: averaged 3.41 percent, with an average 0.5 point, rising slightly from last week’s 3.40 percent average. A year ago, 15-year rates averaged 3.01 percent.

Source: Freddie Macm