Michael Mahoney - Realtor with Century 21 American Properties
Michael Mahoney

National Mortgage Rates Down for End of the Week

Recent Mortgage Rates According to Freddie Mac

Excerpt from National Association of Realtors on 22 August 2019

The 30-year fixed-rate mortgage averaged 3.55% this week, the lowest average since November 2016, Freddie Mac reports. The lower mortgage rates are boding well for the housing market.

“The drop in mortgage rates continues to stimulate the real estate market and the economy,” says 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.”

30-year fixed-rate mortgages: averaged 3.55%, with an average 0.5 point, dropping from last week’s 3.60% average. Last year at this time, 30-year rates averaged 4.51%.
15-year fixed-rate mortgages: averaged 3.03%, with an average 0.5 point, falling from last week’s 3.07% average. A year ago, 15-year rates averaged 3.98%.
5-year hybrid adjustable-rate mortgages: averaged 3.32%, with an average 0.3 point, falling from last week’s 3.35% average. A year ago, 5-year ARMs averaged 3.82%.

One Response to “National Mortgage Rates Down for End of the Week”

  1. September 06, 2019 at 2:25 am, National Real Estate Market Update | Boston Realtor Mike Mahoney said:

    […] See the report on mortgage rates from last week by Freddie Mac […]



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