Mortgage Rates Remain Low and Stable
Tuesday, July 16, 2019
Freddie Mac’s Primary Mortgage Market Survey® (PMMS®), released last week, showed that after declining for most of the year, mortgage rates remained mostly unchanged.
Sam Khater, Freddie Mac’s chief economist, said, “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.”
- The 30-year fixed-rate mortgage (FRM) averaged 3.75 percent with an average 0.5 point for the week ending July 11, 2019, unchanged from the prior week. A year ago at this time, the 30-year FRM averaged 4.53 percent.
- The 15-year FRM averaged 3.22 percent with an average 0.5 point, up from the prior weekly survey when it averaged 3.18 percent. A year ago at this time, the 15-year FRM averaged 4.02 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46 percent, with an average 0.4 point, up just slightly from 3.45 percent the prior week. A year ago at this time, the 5-year ARM averaged 3.86 percent.