Freddie Mac (OTCQB: FMCC) today reported that its Primary Mortgage Market Survey® showed that the new year started with lower rates across the board.
Said Sam Khater, Freddie Mac’s chief economist, “Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51%. Low mortgage rates combined with decelerating home price growth should get prospective home buyers excited to buy. However, it will be interesting to see how the recent turmoil in the stock market will affect home buying activity in the coming months.”
- 30-year fixed-rate mortgage (FRM) averaged 4.51% with an average 0.5 point for the week ending January 3, 2019, down from last week when it averaged 4.55%. A year ago at this time, the 30-year FRM averaged 3.95%.
- 15-year FRM this week averaged 3.99% with an average 0.4 point, down from last week when it averaged 4.01%. A year ago at this time, the 15-year FRM averaged 3.38%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.98% with an average 0.2 point, down from last week when it averaged 4.00%. A year ago at this time, the 5-year ARM averaged 3.45%.