Rates Hold at 2-Year Lows

“Mortgage rates were mostly unchanged from last week due to easing of trade tensions with Mexico, which helped stabilize markets,” says Sam Khater, Freddie Mac’s chief economist. “These historically low rates should provide continued opportunities for current homeowners to refinance their mortgages—which combined with new home buyer activity—will help sustain the momentum in the housing market in 2019.”

Freddie Mac reports the following national averages for the week ending June 13:

  • 30-year fixed-rate mortgages: averaged 3.82%, with an average 0.6 point, unchanged from last week. Last year at this time, 30-year rates averaged 4.62%.
  • 15-year fixed-rate mortgages: averaged 3.26%, with an average 0.5 point, dropping from last week’s 3.28% average. A year ago, rates averaged 4.07%.
Source: Freddie Mac

Loan Rates Back in 3% Territory

For the first time since January 2018, the 30-year fixed-rate mortgage has dropped below 4%.

“Lower rates should, however, give a boost to the housing market, which has been on the upswing with both existing- and new-home sales picking up recently,” says Sam Khater, with Freddie Mac.

Freddie Mac reports the following for the week ending May 30:

  • 30-year fixed-rate mortgagesaveraged 3.99%, with an average 0.5 point, dropping from last week’s 4.06% average. Last year at this time, 30-year rates averaged 4.56%.
  • 15-year fixed-rate mortgages: averaged 3.46%, with an average 0.5 point, dropping from last week’s 3.51% average. A year ago, they averaged 4.06%.
Source: Freddie Mac

Mortgage Rates Continue Decline

“Mortgage rates fell for the fourth consecutive week and continued the medium-term trend of lower rates since late 2018,” says Sam Khater, Freddie Mac’s chief economist. “The drop in mortgage rates is causing purchase demand to rise, and the mix of demand is skewing to the higher end as more affluent consumers are typically more responsive to declines in rates.”

Freddie Mac reports the following national averages for the week ending May 23:

  • 30-year fixed-rate mortgages: averaged 4.06%, with an average 0.5 point, falling from last week’s 4.07% average. Last year at this time, 30-year rates averaged 4.66%.
  • 15-year fixed-rate mortgages: averaged 3.51%, with an average 0.4 point, falling from a 3.53% average last week. A year ago, 15-year rates averaged 4.15%.
Source: Freddie Mac

Mortgage Rates ‘Drop This Week’

Mortgage rates are showing signs of moderating this month, following increases in April. Borrowers are discovering much lower rates compared to a year ago.

“A combination of low mortgage rates, a strong job market, and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending May 9:

  • 30-year fixed-rate mortgages: averaged 4.10%, with an average 0.5 point, falling from last week’s 4.14% average. Last year at this time, rates averaged 4.55%.
  • 15-year fixed-rate mortgages: averaged 3.57%, with an average 0.4 point, falling from last week’s 3.60% average. A year ago, 15-year rates averaged 4.01%.
Source: Freddie Mac

Home Loan Interest Rates Rise

Mortgage rates have slowly been inching up over the past month, but they remain below their levels a year ago.

“Despite the recent rise in mortgage rates, both existing- and new-home sales continue to show strength—indicating the lagged effect of lower rates on housing demand,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for the week ending April 25:

  • 30-year fixed-rate mortgages: averaged 4.20 percent, with an average 0.5 point, rising from last week’s 4.17 percent average. Last year at this time, 30-year rates averaged 4.58 percent.
  • 15-year fixed-rate mortgages: averaged 3.64 percent, with an average 0.5 point, rising from last week’s 3.62 percent average. A year ago, 15-year rates averaged 4.02 percent.
Source: Freddie Mac

Slight ‘Mortgage Rates Rise’

For the third week in a row, mortgage rates inched upward, but economists were quick to reassure home buyers and potential refinancers that rates remain still are below year-ago averages.

“After dropping dramatically in late March, mortgage rates have modestly increased since then,” says Sam Khater, Freddie Mac’s chief economist. “While this week marks the third consecutive week of rises, purchase activity reached a nine-year high—indicative of a strong spring homebuying season.”

Freddie Mac reports the following national averages for the week ending April 18:

  • 30-year fixed-rate mortgages: averaged 4.17 percent, with an average 0.5 point, rising from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 4.47 percent.
  • 15-year fixed-rate mortgages: averaged 3.62 percent, with an average 0.5 point, rising from last week’s 3.60 percent average. A year ago, 15-year rates averaged 3.94 percent.
Source: Freddie Mac

30-Year Rates Plunge This Week

Home shoppers are finding some of the lowest mortgage rates in more than a year. “Mortgage rates declined decisively this week amid various market reports, a strong bond auction, and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending March 14:

  • 30-year fixed-rate mortgages: averaged 4.31 percent, with an average 0.4 point, falling from last week’s 4.41 percent average. Last year at this time, 30-year rates averaged 4.44 percent.
  • 15-year fixed-rate mortgages: averaged 3.76 percent, with an average 0.4 point, dropping from last week’s 3.83 percent average. A year ago, 15-year rates averaged 3.90 percent.
Source: Freddie Mac

Mortgage Rates Inch Up!

After weeks of declines, mortgage rates reversed course, but are still lower than a year ago.

“While mortgage rates very modestly rose to 4.41 percent this week, they remain below year-ago levels for the fourth week in a row,” says Sam Khater, Freddie Mac’s  economist. “In late 2018, mortgage rates rose over a full percentage point from the prior year, which was one of the main reasons that weakness in home sales continued into early 2019. However, the impact of recent lower rates and a strong labor market has led to a rise in purchase mortgage demand as we start the spring home-buying season.”

Freddie Mac reports the following national averages for the week ending March 7:

  • 30-year fixed-rate mortgages: averaged 4.41 percent,with an average 0.5 point, rising from last week’s 4.35 percent average. Last year at this time, 30-year rates averaged 4.46 percent.
  • 15-year fixed-rate mortgages: averaged 3.83 percent, with an average 0.4 point, rising from last week’s 3.77 percent average. A year ago, 15-year rates averaged 3.94 percent.
Source: Freddie Mac

Home Loan Rates Remain Low

“Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week,” says Sam Khater, Freddie Mac’s chief economist. “The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring home buying season.”

Freddie Mac reports national rates for the week ending Feb. 28:

  • 30-year fixed-rate mortgages: averaged 4.35 percent, with an average 0.5 point, unchanged from last week. Last year at this time, 30-year rates averaged 4.43 percent.
  • 15-year fixed-rate mortgages: averaged 3.77 percent, with an average 0.5 point, dropping slightly from last week’s 3.78 percent average. A year ago, 15-year rates averaged 3.90 percent.
Source: Freddie Mac

Mortgage Rates Head Even Lower

Mortgage rates inched lower for the third consecutive week. Freddie Mac Chief Economist Sam Khater says the lower rates bode well for the spring home buying season, typically the busiest time of the year for home shopping.  “Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.” The National Association of REALTORS® reported this week that more houses were on the market in January, rising to 1.59 million nationwide and at a 3.9-month supply at the current sales pace.

Freddie Mac reports the following national averages for the week ending Feb. 21:

  • 30-year fixed-rate mortgages: averaged 4.35 percent ,with an average 0.5 point, dropping from last week’s 4.37 percent average. Last year at this time, 30-year rates averaged 4.40 percent.
  • 15-year fixed-rate mortgages: averaged 3.78 percent, with an average 0.4 point, falling from last week’s 3.81 percent average. A year ago at this time, 15-year rates averaged 3.85 percent.
Source: Freddie Mac