Mortgage Rates Move Upwards, But Stay Low

For the second consecutive week, fixed mortgage rates inched up, but still remain near historical lows, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for the week ending July 28:

30-year fixed-rate mortgages: averaged 3.48 percent, with an average 0.5 point, rising from last week’s 3.45 percent average. Last year at this time, 30-year rates averaged 3.98 percent.

15-year fixed-rate mortgages: averaged 2.78 percent, with an average 0.5 point, increasing from last week’s 2.75 percent average. Last year at this time, 15-year ARMs averaged 3.17 percent.

Source: Freddie Mac

Home Loan ‘Interest Rates’ Back on Free Fall

Mortgage rates declined this week, giving a boost to buyer affordability, Freddie Mac reports in its weekly mortgage market survey.

Since the beginning of this year, 30-year rates have fallen nearly 40 basis points, “helping housing markets sustain their momentum in this year,” says Sean Becketti, Freddie Mac’s chief economist. The National Association of REALTORS® reported this week that existing-home sales had increased 4 percent in February over January and are up 11 percent from last year.

Freddie Mac reports the following mortgage rates for the week ending Feb. 25:

  • 30-year fixed-rate mortgages: averaged 3.62 percent, with an average 0.6 point, dropping from last week’s 3.65 percent average. Last year at this time, 30-year rates average 3.80 percent.
  • 15-year fixed-rate mortgages: averaged 2.93 percent, with an average 0.5 point, falling from last week’s 2.95 percent average. A year ago, 15-year rates averaged 3.07 percent.

Source: Freddie Mac

Home Buyers Growing Wary From Interest Rate Rises ?

Total mortgage applications, including both refinancing and home-purchase loans, dipped 1.5 percent last week from the week prior on a seasonally adjusted basis as mortgage rates continued to tick up, the Mortgage Bankers Association reports in its weekly mortgage market survey.

Applications for home purchases, viewed as a gauge of future homebuying activity, dropped 4 percent from the previous week to its lowest level since April. Yet, home purchase applications are still 11 percent higher than the same week one year ago.

“The drop this week may indicate borrowers being wary of the recent runup in mortgage rates,” said Mike Fratantoni, MBA’s chief economist.

Source: “Weekly Mortgage Applications Drop 1.5% as Rates Rise,” CNBC (May 20, 2015)

30-Year Mortgage Rates Rise to 2-Month High

For the third consecutive week, mortgage rates continue to inch up, with the 30-year fixed-rate mortgage nearing its highest level for 2015 at 3.85 percent this week, Freddie Mac reports in its weekly mortgage market survey.

Freddie reports the following national averages for the week ending May 14:

  • 30-year fixed-rate mortgages: averaged 3.85 percent, with an average 0.6 point, rising from last week’s 3.80 percent average. Last year at this time, 30-year rates averaged 4.20 percent.
  • 15-year fixed-rate mortgages: averaged 3.07 percent, with an average 0.6 point, rising from last week’s 3.02 percent average. A year ago, 15-year rates averaged 3.29 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.89 percent, with an average 0.5 point, dropping from last week’s 2.90 percent average. A year ago, 5-year ARMs averaged 3.01 percent.

Source: Freddie Mac

Home Loan Interest Rates Trend Higher

The 30-year fixed-rate mortgage climbed to average 3.80 percent this week while 15-year rates rose above 3 percent, both reaching their highest levels in nearly two months, Freddie Mac reports in its weekly mortgage market survey.

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

  • 30-year fixed-rate mortgage: averaged 3.80 percent, with an average 0.6 point, rising from last week’s 3.68 percent average. Last year at this time, 30-year rates averaged 4.21 percent.
  • 15-year fixed-rate mortgages: averaged 3.02 percent, with an average 0.6 point, rising from last week’s 2.94 percent average. A year ago, 15-year rates averaged 3.32 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.90 percent, with an average 0.4 point, up from last week’s 2.85 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
  • 1-year ARMs: averaged 2.46 percent, with an average 0.4 point, dropping from last week’s 2.49 percent average. A year ago, 1-year ARMs averaged 2.43 percent.

Source: Freddie Mac

Home Loan Interest Rates Inch Higher This Week

Average fixed-rate mortgages moved slightly higher this week. Freddie Mac noted in its weekly mortgage market survey that borrowers enjoy historical low rate mortgages.

Freddie Mac reports the following national averages for the week ending April 30:

  • 30-year fixed-rate mortgages averaged 3.68 percent, with an average 0.6 point, rising from last week’s 3.65 percent average. A year ago, 30-year rates averaged 4.29 percent.
  • 15-year fixed-rate mortgages averaged 2.94 percent, with an average 0.6 point, increasing from last week’s 2.92 percent average. Last year at this time, 15-year rates averaged 3.38 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 2.85 percent, with an average 0.5 point, rising from last week’s 2.84 percent average. A year ago, 5-year ARMs averaged 3.05 percent.

Source: Freddie Mac

Home Loan Interest Rates Hover Near 2015 Lows

Fixed-rate mortgages were mostly unchanged this week, remaining near the lowest averages of the year, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac reports the following national averages for the week ending April 16:

  • 30-year fixed-rate mortgages: averaged 3.67 percent, with an average 0.7 point, rising slightly from last week’s 3.66 percent average. Last year at this time, 30-year rates averaged 4.27 percent.
  • 15-year fixed-rate mortgages: averaged 2.94 percent, with an average 0.5 point, rising from last week’s 2.93 percent average. A year ago, 15-year rates averaged 3.33 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.88 percent this week, with an average 0.5 point, rising from last week’s 2.83 percent average. Last year at this time, 5-year ARMs averaged 3.03 percent.

Source: Freddie Mac

‘Home Loan Interest Rates’ Take Another Dip

Average fixed-rate mortgages moved lower this week, amid a weaker than expected jobs report in March, Freddie Mac reports in its weekly mortgage market survey.

“Mortgage rates fell across the board following last week’s disappointing employment report,” says Len Kiefer, Freddie Mac’s deputy chief economist. The U.S. economy added 126,000 new jobs in March, well below market expectations of 247,000 jobs, Kiefer notes.

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

  • 30-year fixed-rate mortgages: averaged 3.66 percent, with an average 0.6 point, dropping from last week’s 3.70 percent average. Last year at this time, 30-year rates averaged 4.34 percent.
  • 15-year fixed-rate mortgages: averaged 2.93 percent, with an average 0.6 point, down from a 2.98 percent average last week. A year ago, 15-year rates averaged 3.38 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.83 percent, with an average 0.5 point, dropping from last week’s 2.92 percent. Last year at this time, 5-year ARMs averaged 3.09 percent.

Source: Freddie Mac

A Reason to Lock In Mortgage Rates Now

Home buyers and refinancers may want to lock in their rates now. Fixed-rate mortgages inched higher for the second consecutive week amid a stronger employment report, according to Freddie Mac’s weekly mortgage market survey.

Still, fixed-rate mortgages are hovering near their all-time low on May 23, 2013, allowing buyers and refinancers an opportunity to lock in a low rate.

Freddie Mac reports the following mortgage rates for the week ending Feb. 19:

  • 30-year fixed-rate mortgages: averaged 3.76 percent, with an average 0.6 point, rising from last week’s 3.69 percent average. Last year at this time, 30-year rates averaged 4.33 percent.
  • 15-year fixed-rate mortgages: averaged 3.05 percent, with an average 0.6 point, increasing from last week’s 2.99 percent average. A year ago, 15-year rates averaged 3.35 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, holding the same from last week. A year ago, 5-year ARMs averaged 3.08 percent

Source: Freddie Mac

Home Loan Interest Rates End 2014 Near Yearly Lows

Mortgage rates defied forecasts in 2014 by not inching up to 5 percent as predicted during the year. Instead, the 30-year fixed-rate mortgage is still hovering under 4 percent.

The 30-year fixed-rate mortgage, the most popular loan among home buyers, remained below 4 percent for every week except for two since Oct. 16, Freddie Mac reports.

Despite fixed-rate mortgages ticking up slightly this week, rates remain near 2014 lows, according to Freddie Mac’s weekly mortgage market survey. Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 31, 2014:

  • 30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.6 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 4.53 percent. The 30-year fixed-rate mortgage reached a record low on Nov. 21, 2012, when it averaged 3.31 percent.
  • 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.6 point, rising from last week’s 3.10 percent average. A year ago, 15-year rates averaged 3.55 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.01 percent, with an average 0.5 point, holding the same average as last week. Last year at this time, 5-year ARMs averaged 3.05 percent.

Source: Freddie Mac