The thirty -
year mortgage rate average has dropped for the last three weeks in a row, which is the exact opposite of what most analysts were expecting.
Mortgage rates fell again this week, with the 30 - year
fixed mortgage rate averaging 4.14 percent, nine basis points below last week's 4.23 percent, according to Freddie Mac's recently released Primary Mortgage Market Survey ® (PMMS ®).
With
mortgage rates averaging less than 5 % for the past five years — and 2015 set to become year No. 6 in that trend — there's never been a better time to carry a mortgage into retirement, right?
Last week's dip below 4 percent was the first time the 30 - year, fixed
mortgage rate averaged lower than 4 percent since the election in November, when it broke through the mark.
Mortgage rate averages moved very little this week, continuing to hover near 60 - year lows, Freddie Mac reports in its weekly mortgage market survey.
According to Freddie Mac, this drop marks the 10th consecutive week the 30 - year
mortgage rate averaged under 3.7 percent, which is allowing buyers an extended chance to lock in low rates during housing's busiest time of year.
The 15 - year fixed mortgage rate, meanwhile, averaged 3.50 percent, and the 5 - year Treasury - indexed hybrid
adjustable mortgage rate averaged 3.28 percent, according to the survey.
For LTV,
our mortgage rate averages assume a value of 80 % — equal to a down payment of 20 %.
Today's
mortgage rate averages were provided by Freddie Mac.
The 30 - year
mortgage rate averaged 4.17 % in 2014 according to Freddie Mac.
In the 1970s, explained Lawrence Yun, the chief economist at the National Association of Realtors,
mortgage rates averaged 8.9 percent.
For example, in September 2011, 30 - year
mortgage rates averaged 4.11 percent, while the year - over-year inflation rate was at 3.9 percent.
That marks the second time this quarter the 15 - year
mortgage rate average has dipped below the 3 % mark.
Frank Nothaft, Freddie Mac chief economist commented: «Fixed
mortgage rates averaged 3.92 percent for 30 - year loans and 3.19 percent... View Article
Today's
mortgage rate averages were provided by Freddie Mac.
Fixed 30 - year
mortgage rates averaged 4.47 percent last week, down 6 basis points from 4.53 percent the week before.
Mortgage rates averaged 4.96 % for a 30 - year fixed - rate loan and 4.33 % for 15 years at the end of last week, according to Freddie Mac data.
The 30 - year
mortgage rate averaged 4.17 % in 2014 according to Freddie Mac.
The 15 - year
mortgage rates average has also dropped steadily since the start of 2016.
For LTV,
our mortgage rate averages assume a value of 80 % — equal to a down payment of 20 %.
The thirty - year
mortgage rate average has dropped for the last three weeks in a row, which is the exact opposite of what most analysts were expecting.
Per the survey, the 15 - year, fixed
mortgage rate averaged 3.27 percent, while the 5 - year Treasury - indexed hybrid adjustable mortgage rate averaged 3.12 percent.
The 5 - year Treasury - indexed hybrid adjustable
mortgage rate averaged 3.19 percent.
The 30 - year, fixed
mortgage rate averaged 4.03 percent.
According to Investopedia,
mortgage rates averaged 7.81 % in 1996 and 10.19 % in 1986.
That marks the second time this quarter the 15 - year
mortgage rate average has dipped below the 3 % mark.
Today's
mortgage rate averages were provided by Freddie Mac.
The thirty - year
mortgage rate average has dropped for the last three weeks in a row, which is the exact opposite of what most analysts were expecting.
The 15 - year
mortgage rates average has also dropped steadily since the start of 2016.
«Fixed
mortgage rates averaged 4.00 percent for 30 - year loans and 3.30 percent for 15 - year product during the fourth quarter in Freddie Mac's Primary Mortgage Market Survey ®, well below long - term average,» says Frank Nothaft, Freddie Mac vice president and chief economist.