Home Loan Interest Rates Are Holding Steady

Rates have mostly stayed flat the past three weeks, offering buyers a pause to steadily rising rates.

“Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday’s jobs report and uncertainty about the Administration’s fiscal policies have contributed to the holding pattern in rates.” says Sean Becketti, Freddie Mac’s chief economist.

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

  • 30-year fixed-rate mortgages: averaged 4.17 percent, with an average 0.4 point, dropping from last week’s 4.19 percent average. Last year at this time, 30-year rates averaged 3.65 percent.
  • 15-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.4 point, falling from last week’s 3.41 percent average. A year ago, 15-year rates averaged 2.95 percent.

Source: Freddie Mac

Home Loan Interest Rates Move Down Again

For the third consecutive week, fixed-rate mortgages edged down, lowering borrowing costs for buyers and refinancers. So, now is the time to start your loan and home search!

Freddie Mac reports the following national averages for the week ending Jan. 19:

  • 30-year fixed-rate mortgages: averaged 4.09 percent, with an average 0.5 point, dropping from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 3.81 percent.
  • 15-year fixed-rate mortgages: averaged 3.34 percent, with an average 0.5 point, falling from last week’s 3.37 percent average. A year ago, 15-year rates averaged 3.10 percent.

Source: Freddie Mac

Mortgage Rates Lower Again Last Week

After absorbing a mixed December jobs report; the 10-year Treasury yield fell 8 basis points. The 30-year mortgage rate moved in tandem with Treasury yields falling 8 basis points to 4.12 percent, the second decline since the presidential election. The December jobs report showed 156,000 jobs added, barely meeting many experts’ expectations, while wage growth was at the high end of expectations at 0.4 percent. If strong wage gains persist, they may push inflation and interest rates higher.

Freddie Mac reports the following national averages for the week ending Jan. 12:

30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending January 12, 2017, down from last week when it averaged 4.20 percent.

15-year FRM this week averaged 3.37 percent, down from last week when it averaged 3.44 percent.

Source: Freddie Mac

Home Loan Interest Rates Climb to 2016 High

Fixed-rate mortgages were once again on the way up this week, marking the sixth consecutive month for increases. The 30-year fixed-rate mortgage, the most popular option among home buyers, reached a new high for the year.

Freddie Mac reports the following national averages for the week ending Dec. 8:

30-year fixed-rate mortgages averaged 4.13 percent, with an average 0.5 point, increasing from last week’s 4.08 percent average. Last year at this time, 30-year rates averaged 3.95 percent.
15-year fixed-rate mortgages averaged 3.36 percent, with an average 0.5 point, increasing from last week’s 3.34 percent average. A year ago, 15-year rates averaged 3.19 percent.

Source: Freddie Mac

Mortgage Rates at Highest Averages of 2016

As we expected, for the fifth consecutive week, average fixed mortgage rates edged higher. The 30-year fixed-rate mortgage is now averaging above 4 percent.

Freddie Mac reports the following national averages for the week ending Dec. 1:

  • 30-year fixed-rate mortgages: averaged 4.08 percent, with an average 0.5 point, rising from last week’s 4.03 percent average. Last year at this time, 30-year rates averaged 3.93 percent.
  • 15-year fixed-rate mortgages: averaged 3.34 percent, with an average 0.5 point, increasing from last week’s 3.25 percent average. A year ago, 15-year rates averaged 3.16 percent.

Source: Freddie Mac

Home Loan Rates Move to Higher Averages

Fixed-rate mortgages headed up this week, reaching their highest averages since early summer.

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

30-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.5 point, rising from last week’s 3.47 percent average. Last year at this time, 30-year rates averaged 3.87 percent.
15-year fixed-rate mortgages: averaged 2.84 percent, with an average 0.5 point, rising from last week’s 2.78 percent average. A year ago, 15-year rates averaged 3.09 percent.

Source: Freddie Mac

Home Loan Interest Rates Surge to 4-Month High

For the second week, mortgage rates moved higher. This time, the 30-year fixed-rate mortgage inched above 3.5 percent for the first time since June.

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

’30-year fixed-rate’ mortgages: averaged 3.52 percent, with an average 0.5 point, rising from last week’s 3.47 percent average. Last year at this time, 30-year rates averaged 3.79 percent.

’15-year fixed-rate’ mortgages: averaged 2.79 percent, with an average 0.5 point, also rising from last week’s 2.76 percent average. A year ago, 15-year rates averaged 2.98 percent.

Source: Freddie Mac

Mortgage Rates Are Staying Low

Fixed-rate mortgages were mostly in a holding pattern this week, keeping borrowing costs low for home buyers and refinancers.

Freddie Mac reports the following national averages for the week ending Oct. 6:

30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.5 point, unchanged from last week. A year ago, 30-year rates averaged 3.76 percent.

15-year fixed-rate mortgages: averaged 2.72 percent, with an average 0.5 point, also unchanged from last week’s average. Last year at this time, 15-year rates averaged 2.99 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

Home Loan Interest Rates Are Moving on Up

“This is the first week since June that mortgage rates were above 3.48 percent, snapping an 11-week trend,” says Sean Becketti, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for the week ending Sept. 15:

30-year fixed-rate mortgages: averaged 3.50 percent, with an average 0.5 point, rising from last week’s 3.44 percent average. Last year at this time, 15-year rates averaged 3.91 percent.

15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.5 point, rising from last week’s 2.76 percent average. A year ago, 15-year rates averaged 3.11 percent.

Source: Freddie Mac