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Lower Mortgage Rates to Start the Week

February 13, 2019

 

Lower Mortgage Rates to Start the Week

The average 30-year, fixed mortgage rate is sliding, down to 4.41 percent this past week, according to the latest Freddie Mac Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate stands at 3.84 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate stands at 3.91 percent.
 
"The U.S. economy remains on solid ground, inflation is contained and the threat of higher short-term rates is fading from view, which has allowed mortgage rates to drift down to their lowest level in 10 months," says Sam Khater, chief economist at Freddie Mac. "This is great news for consumers who will be looking for homes during the upcoming spring home-buying season. Mortgage rates are essentially similar to a year ago, but today's buyers have a larger selection of homes and more consumer bargaining power than they did the last few years."
 
30-Year Fixed

  • Averaging 4.41 percent, with an average 0.4 point
  • Down from 4.46 percent the prior week and from 4.32 percent the prior year 

15-Year Fixed

  • Averaging 3.84 percent, with an average 0.4 point
  • Down from 3.89 percent the prior week, but up from 3.77 percent the prior year 

5-Year Adjustable

  • Averaging 3.91 percent, with an average 0.3 point
  • Down from 3.96 percent the prior week, but up from 3.57 percent the prior year 

Source: Freddie Mac

 

Whether you're purchasing your first home, investing, selling/buying a home, downsizing or relocating,we are committed to helping you achieve your real estate goals by providing you with quality information and outstanding service.

 

Michael Kogler, REALTOR
MIKE KOGLER TEAM: #1 Sales Team 2018
Long & Foster Real Estate, Inc., Delaware Coastal Properties Division
Cell: (302) 236-7648
Email: Michael.Kogler@LNF.com

www.MikeKogler.com