Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity. 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.”
• 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.7 points for the week ending February 6, 2020, down from last week when it averaged 3.51 percent. A year ago, at this time, the 30-year FRM averaged 4.41 percent.
• 15-year FRM this week averaged 2.97 percent with an average 0.7 points, down from last week when it averaged 3.00 percent. A year ago, at this time, the 15-year FRM averaged 3.84 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.32 percent this week with an average 0.2 points, down from last week when it averaged 3.24 percent. A year ago, at this time, the 5-year ARM averaged 3.91 percent.