Freddie Mac: mortgage rates decline amid economic uncertainty The 30-year fixed-rate mortgage averaged 4.31% this week
Freddie Mac’s Mortgage Rate Survey Explained. Research Note: Freddie Mac’s Primary Mortgage Market Survey (PMMS) is the longest running weekly survey of mortgage interest rates in the United States. Since Freddie Mac launched its survey in 1971, others have begun collecting and reporting mortgage rate information.
Mortgage rates are being pushed down because of it. This week’s Freddie Mac average on a 30-year fixed rate mortgage was 3.99%. That’s the first time rates have dropped below 4% since January of 2018. The chart below from Freddie Mac shows the path of interest rates on 30-year, 15-year and 5/1-year ARM.
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Freddie Mac reports 30-year mortgage rates dropping again. Mortgage rates are down close to 60 basis points (0.60%) from the New Year.
Mortgage rates hit their lowest levels since November 2016 on the heels of the Federal Reserve meeting last week. According to the latest data released thurs. mortgage rates sink to a 31-month low after Federal Reserve expresses uncertainty about the economy. admin June 28, 2019, 7:49 am June.
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Mortgage applications surge. After weeks of declines, mortgage rates have settled at a two-year low. Easing of trade tensions with Mexico helped to stabilize the markets, keeping rates a steady 3.82% for a 30-year fixed-rate mortgage, according to Freddie Mac.
And some want to trade in the uncertainty of an adjustable-rate mortgage for the dependability of a fixed-rate loan, he says. Amy Crews Cutts, Freddie Mac’s deputy chief economist, says despite.
· Mortgage Rates Stay Near Two Year Low Freddie Mac reported average mortgage rates were little changed last week. 30-year mortgage rates averaged 3.52 percent and were unchanged from the prior week. 15-year fixed mortgage rates averaged 3.26 percent and were two basis points lower.
The interest rate on a 30-year fixed-rate mortgage fell to 4.07 percent from 4.61 a year before, according to Freddie Mac. The rate is 13 basis points below what it was two weeks ago, before a.
However, despite the starring role mortgages played in the financial sector meltdown in 2008, perceived credit risk has abated somewhat, which has helped keep interest rates on mortgages as low as.
Freddie Mac chief economist, said in a statement. "This week’s survey rate is the lowest since May 2013 and only 17 basis points above the all-time low recorded in November 2012. This extremely low.