Freddie Mac: Mortgage Rates Low, May Get Lower


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Freddie Mac’s most recent Primary Mortgage Market Survey shows the 30-year fixed mortgage rate remaining around 4 percent for the fifth consecutive week.

“The 30-year mortgage rate fell 3 basis points this week to 4.02 percent,” Freddie Mac chief economist Sean Becketti said in a statement. “However, this week’s survey closed prior to Wednesday’s flight to quality. The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week’s survey.”

The 30-year fixed-rate mortgage (FRM) averaged 4.02 percent with an average 0.5 point for the week ending May 18, down from last week when it averaged 4.05 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent.

The 15-year FRM this week averaged 3.27 percent with an average 0.5 point, down from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.

Continued political turmoil at the national level could push mortgage rates even lower as nervous investors move money out of the stock market and into the bond market.




Freddie Mac: Mortgage Rates Low, May Get Lower

by The Commercial Record time to read: 1 min
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