Home Loan Interest Rates Push Above 4%

Average mortgage rates are moving up, posting increases for the second consecutive week.

“After fully absorbing the sharp increases in Treasury yields over the past couple of weeks, the 30-year mortgage rate has cleared the psychologically important 4 percent mark for the first time since May,” says Sean Becketti, Freddie Mac’s chief economist.

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

30-year fixed-rate mortgages averaged 4.03 percent, with an average 0.5 point, increasing from last week’s 3.96 percent average. Last year at this time, 30-year rates averaged 3.42 percent.

15-year fixed-rate mortgages averaged 3.29 percent, with an average 0.5 point, increasing from last week’s 3.22 percent average. A year ago, 15-year rates averaged 2.72 percent.

Source: Freddie Mac

Home Loan Interest Rates Dip to 10-Week Low

“Investors flocked to the safety of government bonds causing the 10-year Treasury yield to continue its descent following the FOMC’s decision to leave rates unchanged,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year fixed-rate mortgage responded by dropping 6 basis points before landing at 3.42 percent — a ten-week low. The course of the economy is uncertain, yet consumers continue to be a bright spot. The September consumer confidence index is up 3 percent to 104.1, exceeding forecasts and reaching a new cycle high.”

Freddie Mac reports the following national averages for the week ending Sept. 29:

  • 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.5 point, falling from last week’s 3.48 percent average. Last year at this time, 30-year rates averaged 3.85 percent.
  • 15-year fixed-rate mortgages: average 2.72 percent, with an average 0.5, falling from last week’s 2.76 percent average. A year ago, 15-year rates averaged 3.07 percent.

Source: Freddie Mac

For 10 Weeks, Mortgage Rates Stay Below 4%

Results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates declining following the Federal Reserve’s decision to defer a hike in the Federal funds rate.

‘News Facts’ on rates for the past week:

  • 30-year fixed-rate mortgage (FRM) averaged 3.86 percent with an average 0.7 point for the week ending September 24, 2015, down from last week when it averaged 3.91 percent. A year ago at this time, the 30-year FRM averaged 4.20 percent.
  • 15-year FRM this week averaged 3.08 percent with an average 0.6 point, down from last week when it averaged 3.11 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.91 percent this week with an average 0.5 point, down from last week when it averaged 2.92 percent. A year ago, the 5-year ARM averaged 3.08 percent.

Source: http://freddiemac.mwnewsroom.com/

Home Loan Mortgage Rates “Back to Near All-Time Lows”

Under signs of a growing economy and low inflation, fixed-rate mortgages inched down this week and are hovering near their record lows, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at average mortgage rates for the week ending Nov. 1:

•30-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.7 point, dropping from last week’s 3.41 percent average. The record low for the 30-year mortgage, set in recent weeks, was an average of 3.36 percent.

•15-year fixed-rate mortgages: averaged 2.70 %, with an average 0.7 point, dropping from last week’s 2.72 % average. The 15-year rates record low average is 2.66 %, in October.

•5-year adjustable-rate mortgages: averaged 2.74 %, with an average 0.6 point, dropping from last week’s 2.75 percent average. A year ago, 5-year ARMs averaged 2.96 %.

Source: Freddie Mac