Mortgage Rates Drop

“Mortgage rates fell to the lowest level in thirteen weeks, as investors sought the quality and safety of the U.S. Treasury fixed income markets,” said Sam Khater, Freddie Mac’s Chief Economist. “The drop in mortgage rates, combined with the strong labor market, should propel a continued rise in homebuyer demand.”

News Facts:

  • 30-year fixed-rate mortgage averaged 3.64 percent with an average 0.7 point for the week ending January 9, 2020, down from last week when it averaged 3.72 percent. A year ago at this time, the 30-year FRM averaged 4.45 percent.
  • 15-year fixed-rate mortgage averaged 3.07 percent with an average 0.7 point, down from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 3.89 percent.

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

Home Loan Interest Rates Update!

“Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years,” says Sam Khater, Freddie Mac’s chief economist. “Through May, rates have risen in 15 out of the first 21 weeks (71 percent), which is the highest share since Freddie Mac began tracking this data for a full year in 1972.”

Freddie Mac reports the following national averages for the week ending May 24:

  • 30-year fixed-rate mortgages: averaged 4.66 percent, with an average 0.4 point, rising from last week’s 4.61 percent average. A year ago, 30-year rates averaged 3.95 percent.
  • 15-year fixed-rate mortgages: averaged 4.15 percent, with an average 0.4 point, rising from last week’s 4.08 percent average. A year ago, 15-year rates averaged 3.19 percent.

Source: Freddie Mac