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Residential Real Estate News
U.S. Mortgage Rates End 2018 on a Dip
According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates continued their downward trend to end the week and 2018 lower.
Sam Khater, Freddie Mac's chief economist, says, "Rates continued their two-month slide and are currently hovering around the same level as the early summer, which was before the deterioration in home sales. The negative headlines around the financial markets are concerning but the economy remains healthy, so the drop in mortgage rates should stem or even reverse the slide in home sales that occurred during the second half of 2018."
Freddie Mac News Facts
Sam Khater, Freddie Mac's chief economist, says, "Rates continued their two-month slide and are currently hovering around the same level as the early summer, which was before the deterioration in home sales. The negative headlines around the financial markets are concerning but the economy remains healthy, so the drop in mortgage rates should stem or even reverse the slide in home sales that occurred during the second half of 2018."
Freddie Mac News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.55 percent with an average 0.5 point for the week ending December 27, 2018, down from last week when it averaged 4.62 percent. A year ago at this time, the 30-year FRM averaged 3.99 percent.
- 15-year FRM this week averaged 4.01 percent with an average 0.4 point, down from last week when it averaged 4.07 percent. A year ago at this time, the 15-year FRM averaged 3.44 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.00 percent with an average 0.3 point, up from last week when it averaged 3.98 percent. A year ago at this time, the 5-year ARM averaged 3.47 percent.
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