Mortgage Rates Stabilize Near 2-Year Lows

Average points down to 0.5, 0.4, and 0.4 for 30-yr, 15-yr, and 5-yr respectively

Winston Robson
Jun 23 · Unlisted

Freddie Mac reports the following national averages with mortgage rates for the week ending June 20:

30-year fixed-rate mortgages

  • Averaged 3.84%, with an average 0.5 point
  • Up from last week’s 3.82% average
  • This week in 2018, 30-year rates averaged 4.57%

15-year fixed-rate mortgages

  • Averaged 3.25%, with an average 0.4 point
  • Down from a 3.26% average last week
  • One year ago, 15-year rates averaged 4.04%

5-year hybrid adjustable-rate mortgages

  • Averaged 3.48%, with an average 0.4 point
  • Up from last week’s 3.51% average
  • Last year at this time, 5-year ARMs averaged 3.83%

“While the continued drop in mortgage rates has paused, homebuyer demand has not. This is evident in increased purchase activity and loan amounts, indicating that homebuyers still have the willingness and capacity to purchase homes. Today’s low rates, strong job market, solid wage growth and consumer confidence are typically important drivers of home sales.”

— Sam Khater (Freddie Mac chief economist)

Source: Freddie Mac

Regarding Real Estate

Definately not HGTV.

Unlisted

Winston Robson

Written by

Terrible in onset. Swift in execution. winstonrobson.com

Regarding Real Estate

Definately not HGTV.

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