| Freddie: Drop in Mortgage Rates |
| By RISMedia Staff |
RISMEDIA, Friday, February 07, 2020—
The average 30-year, fixed mortgage rate tumbled to 3.45 percent this week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).
30-Year Fixed
- Averaging 3.45 percent, with an average 0.7 point
- Down from 3.51 percent the prior week and 4.41 percent the prior year
15-Year Fixed
- Averaging 2.97 percent, with an average 0.7 point
- Down from 3 percent the prior week and 3.84 percent the prior year
5-Year Adjustable
- Averaging 3.32 percent, with an average 0.2 point
- Up from 3.24 percent the prior week, but down from 3.91 percent the prior year
"As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity," said Sam Khater, chief economist at Freddie Mac, in a statement. "The combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home-purchase demand continuing to rise over the next few months."
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
Copyright© 2023 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission.
|
|
