Home Loan ‘Interest Rates’ Stay Below 4%

Average fixed mortgage rates mostly stayed calm this week, ahead of the Federal Reserve’s vote on an interest-rate hike for the first time in more than nine years, Freddie Mac reports in its weekly mortgage market survey.

“The Treasury market was relatively quiet this week, and as a result the 30-year mortgage rate barely budged,” says Sean Becketti, Freddie Mac’s chief economist. “Low mortgage rates help to support housing markets, which continue to bring good news.”

Freddie Mac reports the following national averages for the week ending Sept. 17:

  • 30-year fixed-rate mortgages: averaged 3.91 percent, with an average 0.6 point, rising from last week’s 3.90 percent average. A year ago, 30-year rates averaged 4.23 percent.
  • 15-year fixed-rate mortgages: averaged 3.11 percent, with an average 0.6 point, inching up slightly from last week’s 3.10 percent average. Last year at this time, 15-year rates averaged 3.37 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.92 percent, with an average 0.5 point, increasing from last week’s 2.91 percent average. A year ago, 5-year ARMs averaged 3.06 percent.

Source: Freddie Mac

Mortgage Rates ‘Hold Steady This Week’

Fixed-rate mortgages barely budged this week as the 30-year fixed-rate mortgage continued to hover below 4 percent.

Freddie Mac reports the following national averages for the week ending Sept. 10:

  • 30-year fixed-rate mortgages: averaged 3.90 percent with an average 0.6 point, rising from last week’s 3.89 percent average. A year ago, 30-year rates averaged 4.12 percent.
  • 15-year fixed-rate mortgages: averaged 3.10 percent with an average 0.7 point, climbing slightly from last week’s 3.09 percent average. Last year at this time, 15-year rates averaged 3.26 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.91 percent with an average 0.5 point, dropping from last week’s 2.93 percent average. A year ago, 5-year ARMs averaged 2.99 percent.2.45 percent.

Source: Freddie Mac

Mortgage Rates Edged Higher This Week

The 30-year fixed-rate mortgage averaged 3.89 percent this week, up slightly from 3.84 percent last week, on the heels of global economic turmoil and a lack of new information on The Federal Reserve’s next rate meeting. Mortgage rates are still well below their levels of a year ago.

Freddie Mac reports the following national averages for the week ending Sept. 3:

  •     30-year fixed-rate mortgage averaged 3.89 percent with an average 0.6 point, up from last week when it averaged 3.84 percent. Last year, the 30-year rates averaged 4.10 percent.
  •     15-year fixed-rate mortgage averaged 3.09 percent with an average 0.6 point, up from last week from the 3.06 percent average. Last year, 15-year fixed-rate mortgages averaged 3.24 percent.
  •     5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.93 percent with an average 0.4 point, up from last week’s average of 2.90 percent. Last year, the 5-year adjustable-rate mortgage averaged 2.97 percent.

Source: FreddieMac

Stock Shock Shakes Mortgage Rates

“Events in China generated eye-catching volatility in equity markets worldwide over the past week,” says Sean Becketti, Freddie Mac’s chief economist. “Interest rates also rocked up and down — although to a lesser extent than equities — as investors alternated between flights to quality and bargain hunting among beaten-down stocks. Amidst all this confusion, the 30-year mortgage rate dropped to 3.84 percent, the lowest mark since May and the fifth consecutive week with a rate below 4 percent.”

Freddie Mac reported the following national averages for the week ending Aug. 27:

  • 30-year fixed-rate mortgages: averaged 3.84 percent with an average 0.6 point, dropping from last week’s 3.93 percent average. A year ago, 30-year rates averaged 4.10 percent.
  • 15-year fixed-rate mortgages: averaged 3.06 percent with an average 0.6 point, dropping from last week’s 3.15 percent average. Last year at this time, 15-year rates averaged 3.25 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.90 percent with an average 0.4 point, dropping from last week’s 2.94 percent average. Last year at this time, 5-year ARMs averaged 2.97 percent.
  • 1-year ARMs: averaged 2.62 percent with an average 0.3 point, holding the same average as last week. Last year at this time, 1-year ARMs averaged 2.39 percent.

Source: Freddie Mac

30-Year Mortgage Rates Remain Below 4%

For the fifth consecutive week, the 30-year fixed-rate mortgage has averaged below 4 percent, as home buyers and refinancers rush to lock in low rates.

“Housing markets have responded positively to low mortgage rates,” says Sean Becketti, chief economist at Freddie Mac. “The latest NAHB/Wells Fargo Housing Market Index for August 2015 was 61, the highest level in more than nine years. One-unit housing starts in July 2015 jumped to 782,000 units, up 12.8 percent from June and up 19 percent from last year. Overall housing markets remain on track for the best year since 2007.”

Freddie Mac reports the following national averages for the week ending Aug. 20:

  • 30-year fixed-rate mortgages: averaged 3.93 percent, with an average 0.6 point, dropping from last week’s 3.94 percent average. Last year at this time, 30-year rates averaged 4.10 percent.
  • 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.6 point, falling from last week’s 3.17 percent average. A year ago, 15-year rates averaged 3.23 percent.

Source: Freddie Mac

Home Loan Interest Rates Dip Back Below 4%

Average fixed mortgage rates continue to fluctuate week-to-week, with the 30-year fixed-rate mortgage dropping below 4 percent this week, offering temporary relief to home buyers and refinancers after hitting its highest average for the year earlier this month, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for the week ending July 30:

  • 30-year fixed-rate mortgages: averaged 3.98 percent, with an average 0.6 point, dropping from last week’s 4.04 percent average. A year ago, 30-year rates averaged 4.12 percent. Earlier this month, 30-year rates reached the highest average for the year at 4.09 percent.
  • 15-year fixed-rate mortgages: averaged 3.17 percent, with an average 0.6 point, dropping below its 3.21 percent average last week. A year ago, 15-year rates averaged 3.23 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.95 percent, with an average 0.4 point, dropping from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.01 percent.

Source: Freddie Mac

Home Loan Interest Rates Ease From Yearly High

Fixed-rate mortgages this week reversed course and dropped from last week’s highest average for the year, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac reported the following rates for the week ending July 23:

  • 30-year fixed-rate mortgages: averaged 4.04 percent, with an average 0.6 point, dropping from last week’s 4.09 percent average. A year ago, 30-year rates averaged 4.13 percent.
  • 15-year fixed-rate mortgages: averaged 3.21 percent, with an average 0.6 point, dropping from last week’s 3.25 percent average. A year ago, 15-year rates averaged 3.26 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, rising from last week’s 2.96 percent average. Last year at this time, 5-year ARMs averaged 2.99 percent.

Source: Freddie Mac

Mortgage Rates Set New High for the Year

Fixed-rate mortgages reversed course this week and rose toward the highest level this year, amid ongoing volatility in the bond markets, Freddie Mac reports survey.

The average rate on the 30-year fixed-rate mortgage increased five basis points this week, averaging 4.09 percent, the highest level since October of last year.

Freddie Mac reports the following national averages for the week ending July 16:

  • 30-year fixed-rate mortgages: averaged 4.09 percent, with an average 0.6 point, rising form last week’s 4.04 percent average. Last year at this time, 30-year rates averaged 4.13 percent.
  • 15-year fixed-rate mortgages: averaged 3.25 percent, with an average 0.6 point, increasing from last week’s 3.20 percent average. A year ago, 15-year rates averaged 3.23 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.96 percent, with an average 0.5 point, increasing from last week’s 2.93 percent average. Last year at this time, 5-year ARMs averaged 2.97 percent.

Source: Freddie Mac

Relief in Mortgage Interest Rates Likely to Stick Around

Average fixed-rate mortgages moved lower this week, helping to keep buyer activity strong toward the close of the spring homebuying season, Freddie Mac reports in its weekly mortgage market survey.

“Yields on Treasury securities declined this week in response to investor concerns about events in Greece and China,” says Sean Becketti, Freddie Mac’s chief economist. “Mortgage rates fell as well, although not by as much as government bond yields. The rate on 30-year fixed-rate mortgages fell 4 basis points to 4.04 percent. Overseas volatility is likely to persist for some time, providing some restraint on potential U.S. rate increases.”

Freddie Mac reports the following national averages for the week ending July 9:

  • 30-year fixed-rate mortgages: averaged 4.04 percent, with an average 0.6 point, dropping from last week’s 4.08 percent average. A year ago, 30-year rates averaged 4.15 percent.
  • 15-year fixed-rate mortgages: averaged 3.20 percent, with an average 0.5 point, dropping from last week’s 3.24 percent average. Last year at this time, 15-year rates averaged 3.24 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.93 percent, with an average 0.4 point, dropping from last week’s 2.99 percent average. A year ago, 5-year ARMs averaged 2.99 percent.1-year ARMs: averaged 2.50 percent, with an average 0.3 point, dropping from last week’s 2.52 percent average. A year ago, 1-year ARMs averaged 2.40 percent.

Source: Freddie Mac

‘Mortgage Rates Drop’ After Last Week’s Spike

Good news about real estate loans! The average fixed-rate mortgages reversed course this week, falling after having soared to new highs for 2015 last week.

Freddie Mac reports the following mortgage rate averages for the week ending June 18:

  • 30-year fixed-rate mortgages: averaged 4 percent, with an average 0.7 point, dropping from last week’s 4.04 percent average. Last year at this time, 30-year rates averaged 4.17 percent.
  • 15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.5 point, dropping from last week’s 3.25 percent average. A year ago, 15-year rates averaged 3.30 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3 percent, with an average 0.4 point, dropping from last week’s 3.01 percent average. Last year at this time, 5-year ARMs averaged 3 percent.

Source: Freddie Mac