Freddie Mac: Mortgage Rates Stabilize
[PMMS report as of 6/20/19] While the continued drop in mortgage rates has paused, home buyer demand has not. This is evident in increased purchase activity and loan amounts, indicating that home buyers 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.
30-Year Fixed Rate Mortgage is at 3.84%, down .73 from a year ago.
15-Year Fixed Rate Mortgage is 3.25%, down .79 from this time in 2018.
5/1-Year Adjustable Rate Mortgage is reported at 3.48%, down .35 from a year ago.
Source: freddiemac.com
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