Mortgage Rates Remain Flat
Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “Mortgage rates have essentially stabilized over the last two months, which reflects the recovery and improvement in the economy from the malaise earlier in the year. Going forward, the combination of low mortgage rates, tight labor market and high consumer confidence should set up the housing market for continued improvement in home sales heading into the late summer and early fall.”
- 30-year fixed-rate mortgage (FRM) averaged 3.75 percent with an average 0.6 points for the week ending August 1, 2019, they remain the same as last week. A year ago, at this time, the 30-year FRM averaged 4.60 percent.
- 15-year FRM this week averaged 3.2 percent with an average 0.5 points, up from last week when it also averaged 3.18 percent. A year ago, at this time, the 15-year FRM averaged 4.08 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46 percent this week with an average 0.4 points, down from last week when it averaged 3.47 percent. A year ago, at this time, the 5-year ARM averaged 3.93 percent.