1. 2019 Primary Mortgage Market [Current Rates & Commentary]
2019 Weekly Update: Current Rates & Commentary

Primary Mortgage Market

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Freddie Mac reported another drop in mortgage rates this week, which it says is helping strengthen the nation’s real estate market.

6/27 7/4 7/11 7/18 7/25 8/1 8/8 8/15 8/22 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48% 3.75% 3.18% 3.47% 3.75% 3.20% 3.46% 3.60% 3.05% 3.36% 3.60% 3.07% 3.35% 3.55% 3.03% 3.32%
30-Year Fixed

According to Freddie’s latest Primary Mortgage Market Survey, 30-year fixed mortgage rates averaged 3.55 percent for the week ending August 22. That’s the lowest average rate since November 2016 and down from 3.60 percent the week before.

15-Year Fixed

Average rates for 15-year fixed mortgages dropped from 3.07 percent to 3.03 percent this week. Last year, 15-year rates averaged 3.98 percent.

5/1 ARM

The average rate for 5-year adjustable rate mortgages fell from 3.35 percent to 3.32 percent. They were 3.82 percent a year ago.

“The drop in mortgage rates continues to stimulate the real estate market and the economy,” said Sam Khater, Freddie Mac’s chief economist.

“Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months, while refinances surged to their highest share in three and a half years. Households that refinanced in the second quarter of 2019 will save an average of $1,700 a year, which is equivalent to about $140 each month.

“The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.”

Week of August 15, 2019

A week after falling to a three-year low, mortgage rates held steady for the week ending August 15.

6/20 6/27 7/4 7/11 7/18 7/25 8/1 8/8 8/15 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48% 3.75% 3.18% 3.47% 3.75% 3.20% 3.46% 3.60% 3.05% 3.36% 3.60% 3.07% 3.35%
30-Year Fixed

According to the Freddie Mac Primary Mortgage Market Survey, the average 30-year rate was unchanged at 3.6 percent this week. That was down almost a full percentage point from last year's average of 4.53 percent.

15-Year Fixed

Rates for 15-year fixed loans bumped up slightly from 3.05 percent to 3.07 percent. The 15-year rate averaged 4.01 percent a year ago.

5/1 ARM

The going rate for a 5-year adjustable rate mortgage fell slightly from 3.36 percent to 3.35 percent. A year ago, it averaged 3.87 percent.

“The sound and fury of the financial markets continue to warn of an impending recession, however, the silver lining is mortgage demand reached a three-year high this week,” said Sam Khater, Freddie Mac’s chief economist.

“The decline in mortgage rates over the last month is causing a spike in refinancing activity – as homeowners currently have $2 trillion in conventional mortgage loans that are in the money – which will help support consumer balance sheets and increase household cash flow. On top of that, purchase demand is up seven percent from a year ago.”

Week of August 8, 2019

Mortgage rates dropped sharply this week to their lowest level in nearly three years.

6/13 6/20 6/27 7/4 7/11 7/18 7/25 8/1 8/8 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48% 3.75% 3.18% 3.47% 3.75% 3.20% 3.46% 3.60% 3.05% 3.36%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market survey, average 30-year fixed mortgage rates ended the week of August 8 at 3.60 percent. That was a decrease from 3.75 percent the week before.

15-Year Fixed

Average 15-year fixed rates dropped from 3.20 percent to 3.05 percent in the last week. Last year’s average was 4.05 percent.

5/1 ARM

Rates for 5-year adjustable rate mortgages fell from 3.46 percent to 3.36 percent. A year ago at this time, the average 5-year ARM was 3.90 percent.

“There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment,” said Sam Khater, Freddie Mac’s chief economist, explaining the cause of the steep drop this week.

“Business sentiment is declining on negative trade and manufacturing headlines, but consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.”

Current rates for the 30-year mortgage are nearly a full percentage point lower than the same point last year, when they averaged 4.59 percent.

The principal and interest payment on a 30-year, $300,000 mortgagee would be $1,363 at the current average rate. It would have been $2,056 at last year’s higher rate.

Week of August 1, 2019

Mortgage rates remained flat for the week, according to the latest Freddie Mac Primary Mortgage Market Survey.

6/6 6/13 6/20 6/27 7/4 7/11 7/18 7/25 8/1 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48% 3.75% 3.18% 3.47% 3.75% 3.20% 3.46%
30-Year Fixed

Average rates for 30-year fixed mortgages remained unchanged from last week, ending the week of August 1 at 3.75 percent. That’s 85 basis points below last year’s average of 4.60 percent.

15-Year Fixed

The average rate for a 15-year fixed mortgage rose slightly from 3.18 percent to 3.20 percent this week. A year ago, 15-year rates were 88 basis points higher at 4.08 percent.

5/1 ARM

Five-year adjustable rate mortgage rates averaged 3.46 percent this week, down a point from 3.47 percent the week before. The going rate for 5-year ARMs was 3.93 percent last year at this time.

“Mortgage rates have essentially stabilized over the last two months, which reflects the recovery and improvement in the economy from the malaise earlier in the year,” said Sam Khater, Freddie Mac’s chief economist.

“Going forward, the combination of low mortgage rates, tight labor market and high consumer confidence should set up the housing market for continued improvement in home sales heading into the late summer and early fall.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.88 percent; 15-year fixed at 3.19 percent; 30-year jumbo rates at 4.04 percent; and a 5-year ARM at 3.87 percent.

Wells Fargo’s rates for the past week were 3.75 percent on a 30-year fixed and 3.625 percent on a 30-year jumbo; 3.125 percent on a 15-year fixed and 3.25 percent on a 15-year jumbo; 3.375 percent on a 5-year ARM and 3.5 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 3.5 percent, 20-year at 3.5 percent, and 15-year at 2.75 percent. Its 5-year ARM is 2.875 percent and 10-year ARM is 3.375 percent.

Week of July 25, 2019

Mortgage rates fell in the past week to near three-year lows, according to the latest Freddie Mac Primary Mortgage Market Survey.

5/30 6/6 6/13 6/20 6/27 7/4 7/11 7/18 7/25 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48% 3.75% 3.18% 3.47%
30-Year Fixed

For the week ending July 25, 30-year fixed mortgages carried an average rate of 3.75 percent. That was down from 3.81 percent from the week before. Last year at this time, 30-year rates averaged 4.54 percent.

15-Year Fixed

This week’s 15-year fixed rate averaged 3.18 percent, a decrease from 3.23 the previous week. A year ago, the 15-year fixed rate averaged 4.02 percent.

5/1 ARM

Average rates on 5-year adjustable rate mortgages fell slightly from 3.48 percent to 3.47 percent this week. Last year’s average rate was 3.87 percent.

“Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017,” said Sam Khater, Freddie Mac’s chief economist.

“While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into higher home sales in the second half of this year.”

Week of July 18, 2019

Mortgage rates edged upward this past week, according to the latest Freddie Mac Primary Mortgage Market Survey.

5/23 5/30 6/6 6/13 6/20 6/27 7/4 7/11 7/18 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46% 3.81% 3.23% 3.48%
30-Year Fixed

For the week ending July 18, the 30-year fixed mortgage rate averaged 3.81 percent, up from 3.75 percent the week before. A year ago, typical 30-year rates were 4.52 percent.

15-Year Fixed

The average 15-year fixed rate inched upward from 3.22 percent to 3.23 percent. A year ago at this time, the 15-year mortgage rate averaged 4 percent.

5/1 ARM

The average rate for a 5-year adjustable-rate mortgage was 3.48 this week. It was 3.46 percent the week before. Last year, it was 3.87 percent.

“The rise in rates was driven by continued improvement in consumer spending and partly due to optimism around a forthcoming cut in short term interest rates, which should provide support for business and investor sentiment,” said Sam Khater, Freddie Mac’s chief economist.

“Despite this slight increase in rates, homebuyers are taking advantage of the multi-year low rates in droves, which is evident in the consistently higher refinance and purchase application volumes. The improvement in housing demand should provide sufficient momentum for the housing market and economy during the rest of the year.”

Week of July 11, 2019

According to the latest Freddie Mac Primary Mortgage Market Survey, home loan rates remained in a holding pattern for the second consecutive week.

5/16 5/23 5/30 6/6 6/13 6/20 6/27 7/4 7/11 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45% 3.75% 3.22% 3.46%
30-Year Fixed

The 30-year fixed rate was unchanged from the previous week. Rates for 15-year fixed mortgages and 5-year adjustable rate mortgages increased slightly for the week ending July 11. The average rate for 30-year loans was 3.75 percent this week. It was 4.53 percent a year ago.

15-Year Fixed

For 15-year fixed mortgages, the going rate this week was 3.22 percent, up from 3.18 percent the week before. Last year’s average was 4.02 percent.

5/1 ARM

The 5-year ARM rate moved from 3.45 percent to 3.46 percent this week. A year ago at this time, the rate averaged 3.86 percent.

“While rates have moderated, we’re still at nearly three-year lows, which is good news for buyers looking to purchase a home before school starts,” said Sam Khater, Freddie Mac’s chief economist.

“The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodative tone from the Federal Reserve to respond to the rising downside economic risk from trade tensions and soft global economic data. On the housing front, the latest weekly purchase application data suggests homebuyer demand continues to rise, which is consistent with the slowly improving real estate data from the last two months.”

Week of July 4, 2019

Mortgage rates mainly held steady during the week of Independence Day, according to Freddie Mac’s latest survey.

5/9 5/16 5/23 5/30 6/6 6/13 6/20 6/27 7/4 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39% 3.75% 3.18% 3.45%
30-Year Fixed

For the week ending July 4, the average 30-year fixed rate was 3.75 percent. That was up slightly from 3.73 percent the week before. Last year, the typical 30-year rate was 4.52 percent.

15-Year Fixed

The average rate for 15-year fixed mortgages rose from 3.16 percent to 3.18 percent. A year ago, 15-year rates averaged 3.99 percent.

5/1 ARM

Five-year adjustable rate mortgages averaged 3.45 percent this week. The week before the going rate was 3.39 percent. It was 3.74 percent at this time last year.

“We’re seeing a tug of war happen as the fixed income market flashes warning signs while the equities market continues to march higher with optimism,” said Sam Khater, Freddie Mac’s chief economist.

“The data suggests the economy is weakening but is still on very solid ground with high consumer confidence and a strong labor market. Closer to home, the housing market continues to slowly improve and gain momentum as we head into the second half of the year, which is good news and should keep the economy growing.”

Week of June 27, 2019

Fixed mortgage rates dropped for the seventh time in the last nine weeks, pushing the 30-year average to its lowest mark since November 2016.

5/2 5/9 5/16 5/23 5/30 6/6 6/13 6/20 6/27 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48% 3.73% 3.16% 3.39%
30-Year Fixed

According to this week’s Freddie Mac Primary Mortgage Market Survey, 30-year fixed rates averaged 3.73 percent. That was down from 3.84 percent the week before. Last year, it was 4.55 percent.

15-Year Fixed

Rates for 15-year fixed mortgages are down almost a full percentage point in the last year. For the week ending June 27, the going rate was 3.16 percent, a decline from 3.25 percent the week before. A year ago at this time, 15-year rates averaged 4.04 percent.

5/1 ARM

For the week, the average starting rate on a 5-year adjustable rate mortgage was 3.39 percent. It was 3.48 percent the week before and 3.87 percent a year ago.

“While the industrial and trade related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market,” said Sam Khater, Freddie Mac’s chief economist.

“Through late June, home purchase applications improved by five percentage points compared to the previous month. In the near-term, we expect the housing market to continue to improve from both a sales and price perspective.”

Week of June 20, 2019

Mortgage rates held steady for the third consecutive week, according to the latest Primary Mortgage Market Survey.

4/25 5/2 5/9 5/16 5/23 5/30 6/6 6/13 6/20 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51% 3.84% 3.25% 3.48%
30-Year Fixed

For the week ending June 20, the average 30-year fixed rate was 3.84 percent. That was up slightly from 3.82 percent the week before. Last year, 30-year rates averaged 4.57 percent.

15-Year Fixed

Typical rates for 15-year fixed mortgages were 3.25 percent this past week compared with 3.26 percent the week before. A year ago at this time, 15-year rates averaged 4.04 percent.

5/1 ARM

Rates for 5-year adjustable rate mortgages averaged 3.48 percent. That was down from 3.51 percent the week before and 3.83 percent during the same period last year.

“While the continued drop in mortgage rates has paused, homebuyer demand has not," said Sam Khater, Freddie Mac’s chief economist. “This is evident in increased purchase activity and loan amounts, indicating that homebuyers still have the willingness and capacity to purchase homes. Today’s low rates, strong job market, solid wage growth and consumer confidence are typically important drivers of home sales.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.88 percent; 15-year fixed at 3.23 percent; 30-year jumbo rates at 4.12 percent; and a 5-year ARM at 3.88 percent.

Wells Fargo’s rates for the past week were 3.625 percent on a 30-year fixed and 3.625 percent on a 30-year jumbo; 3 percent on a 15-year fixed and 3.25 percent on a 15-year jumbo; 3.25 percent on a 5-year ARM and 3.5 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 3.375 percent, 20-year at 3.625 percent, and 15-year at 3 percent. Its 5-year ARM is 3 percent and 10-year ARM is 3.25 percent.

Week of June 13, 2019

After falling for six consecutive weeks, mortgage rates held steady for the week ending June 13.

4/18 4/25 5/2 5/9 5/16 5/23 5/30 6/6 6/13 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52% 3.82% 3.26% 3.51%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate was 3.82 percent this week, same as the week before. It was 4.62 percent a year ago.

15-Year Fixed

Rates for 15-year fixed mortgages dropped slightly from 3.28 percent to 3.26 percent. Last year, the average 15-year rate was 4.07 percent.

5/1 ARM

The average for a 5-year adjustable rate mortgage also fell by a slim margin, from 3.52 percent to 3.51 percent. A year ago at this time, 5-year ARMs carried an average rate of 3.83 percent.

“Mortgage rates were mostly unchanged from last week due to easing of trade tensions with Mexico which helped stabilize markets,” said Sam Khater, Freddie Mac’s chief economist. “These historically low rates should provide continued opportunities for current homeowners to refinance their mortgages – which combined with new homebuyer activity – will help sustain the momentum in the housing market in 2019.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.97 percent; 15-year fixed at 3.25 percent; 30-year jumbo rates at 4.17 percent; and a 5-year ARM at 3.84 percent.

Wells Fargo’s rates for the past week were 3.875 percent on a 30-year fixed and 3.75 percent on a 30-year jumbo; 3 percent on a 15-year fixed and 3.375 percent on a 15-year jumbo; 3.25 percent on a 5-year ARM and 3.375 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 3.5 percent, 20-year at 3.625 percent, and 15-year at 3 percent. Its 5-year ARM is 3 percent and 10-year ARM is 3.25 percent.

Week of June 6, 2019

Mortgage rates fell sharply this week, marking the sixth consecutive weekly decline.

4/11 4/18 4/25 5/2 5/9 5/16 5/23 5/30 6/6 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60% 3.82% 3.28% 3.52%
30-Year Fixed

The latest Freddie Mac Primary Mortgage Market Survey showed the average 30-year rate ended the week of June 6 at 3.82 percent. That’s the lowest 30-year rate since September 2017. The week before, 30-year fixed rates averaged 3.99 percent. A year ago, it was 4.54 percent.

15-Year Fixed

This week’s 15-year fixed rate averaged 3.28 percent, a decline from 3.46 percent the week before. A year ago, the 15-year fixed rate averaged 4.01 percent.

5/1 ARM

The going rate for a 5-year adjustable rate mortgage dropped from 3.60 percent to 3.52 percent. Last year’s average was 3.74 percent.

“While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wide dispersion among mortgage rate offers. By shopping around and getting a single additional mortgage rate quote, a borrower can save an average of $1,500,” said Sam Khater, Freddie Mac’s chief economist.

“These low rates are also good news for current homeowners. With rates dipping below four percent, there are over $2 trillion of outstanding conforming conventional mortgages eligible to be refinanced – meaning the majority of what was originated in 2018 is now eligible.”

This week’s 30-year rate is more than a full percentage point below the 4.94 average rate in late November.

To put the difference in perspective, the monthly principal and interest payment for a $250,000, 30-year mortgage at 4.94 percent would be $1,333. At this week’s 3.82 percent, the payment would drop to $1,168.

Week of May 30, 2019

Mortgage rates fell for the fifth consecutive week and pushed the 30-year fixed average below 4 percent for the first time since January 2018, according to the latest Freddie Mac Primary Mortgage Market Survey.

4/4 4/11 4/18 4/25 5/2 5/9 5/16 5/23 5/30 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68% 3.99% 3.46% 3.60%
30-Year Fixed

30-year fixed rates averaged 3.99 percent for the week ending May 30. That was down from 4.06 percent the week before. A year ago, the average 30-year rate was 4.56 percent.

15-Year Fixed

Rates for 15-year fixed mortgages dropped from 3.51 percent to 3.46 percent in the past week. Last year’s average 15-year rate was 4.06 percent.

5/1 ARM

The average for a 5-year adjustable-rate mortgage was 3.60 percent. That marked a decline from 3.68 percent the week before. A year ago at this time, the 5-year ARM averaged 3.80 percent.

“While economic data points to continued strength, financial sentiment is weakening with the spread between the 10-year and the 3-month Treasury bill narrowing as fears of the impact of the trade war with China grow,” said Sam Khater, Freddie Mac’s chief economist.

Mortgage rates have fallen in line with bond yields, a sign that investors are concerned about future economic growth. When safer bonds look more attractive to investors, it causes bond prices to rise and yields to fall.

“Lower rates should, however, give a boost to the housing market, which has been on the upswing with both existing and new home sales picking up recently.”

Week of May 23, 2019

According to the latest Freddie Mac Primary Mortgage Survey, fixed mortgage rates fell for the fourth consecutive week, continuing a trend of low rates that began late last year.

3/28 4/4 4/11 4/18 4/25 5/2 5/9 5/16 5/23 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66% 4.06% 3.51% 3.68%
30-Year Fixed

30-year fixed rates ended the week of May 23 at 4.06 percent. That was down slightly from 4.07 percent the week before. A year ago, 30-year rates averaged 4.66 percent.

15-Year Fixed

Rates for 15-year fixed mortgages dropped from 3.53 percent to 3.51 percent in the past week. Last year, average 15-year rates were 4.15 percent.

5/1 ARM

The average rate for 5-year adjustable-rate mortgages climbed from 3.66 percent to 3.68 percent. A year ago at this time, the 5-year ARM averaged 3.87 percent.

“The drop in mortgage rates is causing purchase demand to rise and the mix of demand is skewing to the higher end as more affluent consumers are typically more responsive to declines in rates,” said Sam Khater, Freddie Mac’s chief economist.

At the end of the week, Bankrate.com listed the current 30-year fixed mortgage rate at 4.05 percent; 15-year fixed at 3.44 percent; 30-year jumbo rates at 4.21 percent; and a 5-year ARM at 3.89 percent.

Wells Fargo’s rates for the past week were 4 percent on a 30-year fixed and 3.875 percent on a 30-year jumbo; 3.375 percent on a 15-year fixed and on a 15-year jumbo; 3.5 percent on a 5-year ARM and 3.625 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 3.875 percent, 20-year at 3.75 percent, and 15-year at 3.125 percent. Its 5-year ARM is 3.125 percent and 10-year ARM is 3.625 percent.

Week of May 16, 2019

Fixed mortgage rates dropped for the third consecutive week according to the latest Freddie Mac Primary Mortgage Market Survey.

3/21 3/28 4/4 4/11 4/18 4/25 5/2 5/9 5/16 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63% 4.07% 3.53% 3.66%
30-Year Fixed

For the week ending May 16, the average 30-year fixed rate was 4.07 percent, down from 4.10 percent the week before and 4.20 percent three weeks ago. A year ago at this time, the 30-year rate averaged 4.61 percent.

15-Year Fixed

Average 15-year fixed rates fell from 3.57 to 3.53 percent in the past week and have dropped from 3.64 percent in the past three weeks. Last year, 15-year rates averaged 4.08 percent.

5/1 ARM

Rates for 5-year adjustable rate mortgages rose from 3.63 percent to 3.66 percent. At this time a year ago, 5-year ARMs averaged 3.82 percent.

“Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve,” said Sam Khater, Freddie Mac’s chief economist. “While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth and five-decade low unemployment rates, which will drive up home sales this summer.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.98 percent; 15-year fixed at 3.40 percent; 30-year jumbo rates at 4.16 percent; and a 5-year ARM at 3.82 percent.

Wells Fargo’s rates for this past week were 4 percent on a 30-year fixed and 3.875 percent on a 30-year jumbo; 3.375 percent on a 15-year fixed and 3.5 percent on a 15-year jumbo; 3.625 percent on 5-year and 7-year ARMs.

Bank of America listed its current 30-year fixed rate and 20-year fixed rate at 3.875 percent, and its 15-year rate at 3.25 percent. Its 5-year ARM is 3.25 percent and 10-year ARM is 3.75 percent.

Week of May 9, 2019

Fixed mortgage rates have been on a steady decline since peaking in November 2018, when the 30-year fixed rate nearly reached 5 percent. Those rates fell again this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

3/14 3/21 3/28 4/4 4/11 4/18 4/25 5/2 5/9 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68% 4.10% 3.57% 3.63%
30-Year Fixed

For the week ending May 9, the average 30-year fixed rate was 4.10 percent, down from 4.14 percent the week before. A year ago at this time, it was 4.55 percent.

15-Year Fixed

The average 15-year fixed mortgage rate dropped from 3.60 percent to 3.57 percent this week. Last year’s average rate was 4.01 percent.

5/1 ARM

The going rate on a 5-year adjustable rate mortgage was 3.63 percent this week. That was down from 3.68 percent the week before and 3.77 percent the year before.

“Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease,” said Sam Khater, Freddie Mac’s chief economist.

“A combination of low mortgage rates, a strong job market and modest wage growth should spur homebuyer interest and also serve as an incentive for homeowners looking to refinance this spring.”

Week of May 2, 2019

According to the latest Freddie Mac Primary Mortgage Market Survey, mortgage rates declined this past week after several weeks on the rise.

3/7 3/14 3/21 3/28 4/4 4/11 4/18 4/25 5/2 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77% 4.14% 3.60% 3.68%
30-Year Fixed

The average rate for a 30-year fixed loan was 4.14 percent for the week ending May 2. The week before, 30-year rates averaged 4.20 percent. A year ago, the average was 4.55 percent.

15-Year Fixed

Rates for 15-year fixed mortgages fell from 3.64 percent to 3.60 percent. Last year, the average 15-year rate was 4.03 percent.

5/1 ARM

Five-year adjustable rate mortgage rates averaged 3.68 percent last week. That was down from 3.77 percent the week before and 3.69 percent a year ago.

“Slightly weaker inflation and labor economic data caused mortgage rates to dip this week. Moving into summer, we expect rates to be about a quarter to half a percentage point lower than where they were last year, which is good news for the housing market,” said Sam Khater, Freddie Mac’s chief economist.

“These lower rates combined with solid economic growth, low inflation and rebounding consumer confidence should provide a solid foundation for home sales to continue to improve over the next couple of months.”

At the end of the week, Bankrate.com listed the current 30-year fixed mortgage rate at 4.06 percent; 15-year fixed at 3.49 percent; 30-year jumbo rates at 4.22 percent; and a 5-year ARM at 3.95 percent.

Wells Fargo’s rates for the past week were 4.125 percent on a 30-year fixed and 4 percent on a 30-year jumbo; 3.5 percent on a 15-year fixed and 3.625 percent on a 15-year jumbo; 3.75 percent on a 5-year ARM and 3.875 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 4 percent, 20-year at 4 percent, and 15-year at 3.25 percent. Its 5-year ARM is 3.375 percent and 10-year ARM is 3.875 percent.

Week of April 25, 2019

Fixed mortgage rates rose slightly for the fourth consecutive week.

2/28 3/7 3/14 3/21 3/28 4/4 4/11 4/18 4/25 4.35% 3.77% 3.84% 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78% 4.20% 3.64% 3.77%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate for the week ending April 25 was 4.20 percent. The week before it was 4.17 percent. A year ago it was 4.58 percent.

15-Year Fixed

The average rate for a 15-year fixed loan was 3.64 last week, up from 3.62 percent the week before. Last year, it was 4.02 percent.

5/1 ARM

Rates for 5-year adjustable rate mortgages declined from 3.78 percent to 3.77 percent. A year ago at this time, the average 5-year ARM rate was 3.74 percent.

“Despite the recent rise in mortgage rates, both existing and new home sales continue to show strength, indicating the lagged effect of lower rates on housing demand,” said Sam Khater, Freddie Mac’s chief economist. “This, along with improved affordability, should push housing activity higher in the coming months.”

At the end of the week, Bankrate.com listed the current 30-year fixed mortgage rate at 4.04 percent; 15-year fixed at 3.49 percent; 30-year jumbo rates at 4.23 percent; and a 5-year ARM at 3.94 percent.

Wells Fargo’s rates for the past week were 4 percent on a 30-year fixed and 3.875 on a 30-year jumbo; 3.5 percent on a 15-year fixed and on a 15-year jumbo; 3.625 percent on a 5-year ARM and 3.75 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 4 percent, 20-year at 4 percent, and 15-year at 3.25 percent. Its 5-year ARM is 3.375 percent and 10-year ARM is 3.875 percent.

Week of April 18, 2019

Mortgage rates rose for the third consecutive week according to the latest Freddie Mac Primary Mortgage Market Survey.

2/21 2/28 3/7 3/14 3/21 3/28 4/4 4/11 4/18 4.35% 3.78% 3.84% 4.35% 3.77% 3.84% 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80% 4.17% 3.62% 3.78%
30-Year Fixed

For the week ending April 18, the average 30-year fixed mortgage rate was 4.17 percent. That marked a week-to-week increase from 4.12 percent. Last year’s 30-year average rate was 4.47 percent.

15-Year Fixed

Average 15-year rates rose by less of a margin. Last week’s average was 3.62 percent, up from 3.60 percent the week before. A year ago at this time, 15-year rates averaged 3.94 percent.

5/1 ARM

Rates for 5-year adjustable rate mortgages fell slightly in the last week from 3.80 percent to 3.78 percent. Last year, the average 5-year ARM rate was 3.67 percent.

“After dropping dramatically in late March, mortgage rates have modestly increased since then,” said Sam Khater, Freddie Mac’s chief economist. “While this week marks the third consecutive week of rises, purchase activity reached a nine-year high, indicative of a strong spring homebuying season.”

Week of April 11, 2019

Mortgage rates rose modestly for the week ending April 11.

2/14 2/21 2/28 3/7 3/14 3/21 3/28 4/4 4/11 4.37% 3.81% 3.88% 4.35% 3.78% 3.84% 4.35% 3.77% 3.84% 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66% 4.12% 3.60% 3.80%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year fixed mortgage rates increased from 4.08 percent to 4.12 percent in the past week. Last year, the average 30-year rate was 4.42 percent.

15-Year Fixed

Rates for 15-year fixed mortgages were also higher. The increased from 3.56 percent to 3.60 percent. A year ago at this time, the 15-year rate averaged 3.87 percent.

5/1 ARM

Five-year adjustable-rate mortgage rates jumped from 3.66 percent to 3.80 percent. A year ago, the average five-year ARM rate was 3.61 percent.

“Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating borrower sensitivity to changing mortgage rates,” said Sam Khater, Freddie Mac’s chief economist.

“Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting homebuyer demand in the next few months.”

Week of April 4, 2019

Mortgage rates held steady in the past week after a steep decline the week before.

2/7 2/14 2/21 2/28 3/7 3/14 3/21 3/28 4/4 4.41% 3.84% 3.91% 4.37% 3.81% 3.88% 4.35% 3.78% 3.84% 4.35% 3.77% 3.84% 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57% 3.75% 4.08% 3.56% 3.66%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed mortgage rate was 4.08 percent for the week ending April 4. That was up slightly from 4.06 percent the week before. Last year, 30-year rates averaged 4.40 percent.

15-Year Fixed

Last week’s average 15-year fixed rate was 3.56. That was a slight decrease from the 3.57 percent rate the week before. A year ago at this time, the average 15-year rate was 3.87 percent.

5/1 ARM

The average rate for 5-year adjustable-rate mortgages was 3.66 percent last week. It was 3.75 percent the week before and 3.62 percent the year before.

“Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity, overall mortgage demand rose to the highest level since the fall of 2016,” said Sam Khater, Freddie Mac’s chief economist.

“While the housing market has faced many head winds the last few months, it sailed through the turbulence to calmer seas with demand buttressed by a strong labor market and low mortgage rates. The benefits of the decline in mortgage rates that we’ve seen this year will continue to unfold over the next few months due to the lag from changes in mortgage rates to market sentiment and ultimately home sales.”

Week of March 28, 2019

Mortgage rates experienced their largest one-week decline in a decade last week, according to the latest Freddie Mac Primary Mortgage Market Survey.

1/31 2/7 2/14 2/21 2/28 3/7 3/14 3/21 3/28 4.46% 3.89% 3.96% 4.41% 3.84% 3.91% 4.37% 3.81% 3.88% 4.35% 3.78% 3.84% 4.35% 3.77% 3.84% 4.41% 3.83% 3.87% 4.31% 3.76% 3.84% 4.28% 3.71% 3.84% 4.06% 3.57%