The WPJ
Residential Real Estate News
The U.S. Housing Market Enjoys Lower Mortgage Rates in Early 2019
Based on Freddie Mac's latest Primary Mortgage Market Survey the first week of January 2019, the New Year started with lower mortgage rates across the board in the U.S.
Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy. However, it will be interesting to see how the recent turmoil in the stock market will affect homebuying activity in the coming months."
Freddie Mac News Facts:
Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy. However, it will be interesting to see how the recent turmoil in the stock market will affect homebuying activity in the coming months."
Freddie Mac News Facts:
- 30-year fixed-rate mortgage (FRM) averaged 4.51 percent with an average 0.5 point for the week ending January 3, 2019, down from last week when it averaged 4.55 percent. A year ago at this time, the 30-year FRM averaged 3.95 percent.
- 15-year FRM this week averaged 3.99 percent with an average 0.4 point, down from last week when it averaged 4.01 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.98 percent with an average 0.2 point, down from last week when it averaged 4.00 percent. A year ago at this time, the 5-year ARM averaged 3.45 percent.
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