This week, the average U.S. fixed rate for a 30-year mortgage held steady at 3.73%. Although this rate remains the same as last week’s percentage, it’s still more than a percentage point below the 4.55% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.
The 15-year FRM averaged 3.19% this week, remaining unchanged from last week’s rate. This time last year, the 15-year FRM came in at 4.01%.
Although rates continue to hover near historic lows, Sam Khater, Freddie Mac’s Chief Economist, warns a lack of housing supply is likely to dampen home sales in 2020.
Source: Freddie Mac