Given Recent U.S. Stock Market Volatility, Mortgage Rates Drop Again


According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.45 percent in late February 2019.


“Given
the recent volatility of the ten-year Treasury yield, it’s not
surprising that mortgage rates again have dropped,” said Sam Khater,
Freddie Mac’s Chief Economist. “These low rates combined with high
consumer confidence continue to drive home sales upward, a trend that is
likely to endure as we enter spring.”


Freddie Mac News Facts


  • 30-year
    fixed-rate mortgage averaged 3.45 percent with an average 0.7 point for
    the week ending February 27, 2020, down from last week when it averaged
    3.49 percent. A year ago at this time, the 30-year FRM averaged 4.35
    percent.
  • 15-year fixed-rate mortgage averaged 2.95
    percent with an average 0.8 point, down from last week when it averaged
    2.99 percent. A year ago at this time, the 15-year FRM averaged 3.77
    percent.
  • 5-year Treasury-indexed hybrid
    adjustable-rate mortgage (ARM) averaged 3.20 percent with an average 0.2
    point, down from last week when it averaged 3.25 percent. A year ago at
    this time, the 5-year ARM averaged 3.84 percent.


News Source: Worldpropertyjournal.com