Freddie Mac: Mortgage rates fall to 3-year low
The Seay Realty Group is excited about this Big News from Freddie Mac: Mortgage rates fell to a 3 year LOW the week ending June 27, 2019, then leveled out a bit the week ending July 3rd! Freddie Mac reports that “the housing market continues to slowly improve and gain momentum as we head into the second half of the year, which is good news and should keep the economy growing.”
The July 3 Freddie Mac Primary Mortgage Market Survey (PMMS) reports the average U.S. rate for a 30-year fixed mortgage averaged 3.75%, up 0.02% from last weeks rate of 3.75%
The 15-year FRM averaged 3.18% this week, up merely 0.02% from last week.
Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.45%, up from last week’s rate of 3.39%. Unsurprisingly, this rate is much lower than the same time period in 2018 when it averaged 3.74%.
The image below highlights this week’s changes:
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