3-Year Lows for Mortgage Rates
By RISMedia Staff
The environment of low mortgage rates is still upon us, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed mortgage rate was 3.75 percent this week, while the average 15-year, fixed mortgage rate was 3.18 percent, and the average five-year, Treasury-indexed hybrid adjustable rate was 3.47 percent.
"Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017," says Sam Khater, chief economist at Freddie Mac. "While the improvement has yet to impact home sales, there's a clear firming of purchase demand that should translate into higher home sales in the second half of this year."
30-Year Fixed
By RISMedia Staff
The environment of low mortgage rates is still upon us, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed mortgage rate was 3.75 percent this week, while the average 15-year, fixed mortgage rate was 3.18 percent, and the average five-year, Treasury-indexed hybrid adjustable rate was 3.47 percent.
"Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017," says Sam Khater, chief economist at Freddie Mac. "While the improvement has yet to impact home sales, there's a clear firming of purchase demand that should translate into higher home sales in the second half of this year."
30-Year Fixed
- Averaging 3.75 percent, with an average 0.5 point
- Down from 3.81 percent the prior week and 4.54 percent the prior year
- Averaging 3.18 percent, with an average 0.5 point
- Down from 3.23 percent the prior week and 4.02 percent the prior year
- Averaging 3.47 percent, with an average 0.4 point
- Down from 3.48 percent the prior week and 3.87 percent the prior year
Comments
Post a Comment