Freddie Mac: Mortgage rates fall even lower

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 · Freddie Mac’s weekly rate report revealed that mortgage rates continued to trend lower last week. From Freddie Mac’s Vice President and chief economist states, “Mortgage rates continued to fall, albeit at a slower pace, with the 30-year fixed rate mortgage averaging 3.63 percent this week”.

“According to Freddie Mac, the weekly low for the year took place in mid-September, when 30-year rates for conforming loans hit 3.78 percent. This is a rate that isn’t just somewhat low: it’s fairly close to the 3.31 percent record set in 2012.

Mortgage giant Freddie Mac said Thursday the average rate on the benchmark 30-year, fixed-rate mortgage dropped to 4.63 percent from to 4.75 percent last week. The key rate stood at 3.93 percent a.

Mortgage rates change frequently and over the last 45 years they have ranged from a high of 18.63% to a low of 3.31%. While it’s not likely that the average 30-year fixed mortgage rate will return to the all-time record low of 3.13%, average rates are still low compared to almost any year since 1971 – all to the advantage of today’s homebuyers.

After peaking last fall, mortgage interest rates have fallen at the start of 2019. As of the week of February 14, 2019, the 30-year fixed-rate mortgage rate was down from a year ago. The decline in mortgage interest rates could provide some welcome relief to a housing market that is looking to regain momentum.

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That makes the secondary mortgage market more liquid and helps lower the interest rates paid by homeowners and other mortgage borrowers. Fannie Mae and Freddie Mac also can help stabilize mortgage markets and protect housing during extraordinary periods when stress or turmoil in the broader financial system threaten the economy.

Even with the 30-year average mortgage rate below 4%, home sales slowed in the first five months of the year. Freddie Mac surveys lenders across the country between Monday and Wednesday each week to.

The 30-year fixed-rate average slid to 3.82 percent and the 15-year rate hit 3.28 percent this week, according to new data from Freddie Mac reported in the Washington Post. Rates have been on a.

According to Freddie Mac, the 30-year fixed rate mortgage. even further in the next week. Housing value also saw a decline in April of 0.1%, according to Zillow. This was the first monthly decline.