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

“Rates Ring in the New Year” near Record Lows!

Fixed-rate mortgages are averaging near record lows, keeping home buyer affordability high, Freddie Mac reports in its weekly mortgage market survey.

“Mortgage rates started the year near record lows, which should continue to aid the ongoing housing recovery,” says Frank Nothaft, Freddie Mac’s chief economist. 

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 3: 

  • 30-year fixed-rate mortgages: averaged 3.34 percent, with an average 0.7 point, dropping from last week’s 3.35 percent average. The record low for 30-year mortgages is 3.31 percent, which was set in November. A year ago, 30-year rates averaged 3.91 percent. 
  • 15-year fixed-rate mortgages: averaged 2.64 percent, with an average 0.7 point, dropping from last week’s 2.65 percent average. The record low for 15-year mortgages is 2.63 percent, also set in November. Last year at this time, 15-year rates averaged 3.23 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.71 percent, with an average 0.6 point, rising from last week’s 2.70 percent average. Last year at this time, 5-year ARMs averaged 2.86 percent. 

Source: Freddie Mac

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

Home Loan Mortgage Rates “Staying Low”

The following are the national averages in mortgage rates for the past week, according to Freddie Mac:

30-year fixed-rate mortgages: averaged 3.37 percent, with an average 0.7 point, down from last week’s 3.39 percent average. A year ago, 30-year rates averaged 4.11 percent.

15-year fixed-rate mortgages: averaged a new record low of 2.66 percent, with an average 0.6 point, own from last week’s 2.70 percent average. A year ago, 15-year rates averaged 3.38 percent.

5-year adjustable-rate mortgages: averaged 2.75 percent, with an average 0.6 point, rising from last week’s 2.73 percent average. Last year at this time, 5-year ARMs averaged 3.01 percent.

Source: Freddie Mac

Home Mortgage Interest Rates reach “New Record”

Good news to share! Fixed-rate mortgages set new all-time lows for the second consecutive week, Freddie Mac reports in its weekly mortgage market survey.

“Fixed mortgage rates fell again this week to all-time record lows due to the mortgage securities purchases by the Federal Reserve and indicators of a weakening economy,” says Frank Nothaft, Freddie Mac’s chief economist.

The Federal Reserve’s move recently to buy up $40 billion of mortgage-backed securities each month until the job market improves is causing mortgage rates to fall.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 4:

•30-year fixed-rate mortgages: averaged a new record of 3.36 percent, with an average 0.6 point, dropping from last week’s previous record of 3.40 percent. A year ago, 30-year mortgages averaged 3.94 percent.

•15-year fixed-rate mortgages: averaged a new record low of 2.69 percent, with an average 0.5 point, dropping from last week’s previous record, 2.73 percent. A year ago, 15-year rates averaged 3.26 percent.

•5-year adjustable-rate mortgages: averaged 2.72 percent, with an average 0.6 point, rising slightly from last week’s 2.71 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.

•1-year ARMs: averaged 2.57 percent, with an average 0.4 point, dropping from last week’s 2.60 percent average. A year ago, 1-year ARMs averaged 2.95 percent.

Source: Freddie Mac