Freddie Mac’s (OTCQB: FMCC) weekly Primary Mortgage Market Survey® reported Thursday that mortgage rates held steady after declining for three consecutive weeks.
Sam Khater, Freddie Mac’s chief economist, said, “Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3% from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring home buying season.”
News Facts
· 30-year fixed-rate mortgage (FRM) averaged 4.35% with an average 0.5 point for the week ending February 28, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.43%.
· 15-year FRM this week averaged 3.77% with an average 0.5 point, down from last week when it averaged 3.78%. A year ago at this time, the 15-year FRM averaged 3.90%.
· 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.84% with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.62%.
