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News & Press: Industry News

Mortgage Rates Low as Entry Level Buyers Strong

Tuesday, October 15, 2019  
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Freddie Mac’s latest Primary Mortgage Market Survey released last week shows the 30-year fixed-rate mortgage averaged 3.57 percent, down 8 basis points from the prior week. Sam Khater, Freddie Mac’s Chief Economist stated “The fifty-year low in the unemployment rate combined with low mortgage rates has led to increased homebuyer demand this year. Much of this strength is coming from entry-level buyers – the first-time homebuyer share of the loans Freddie Mac purchased in 2019 is forty-six percent, a two-decade high.”

Reported Rates:

  • 30-year fixed-rate mortgage averaged 3.57 percent with an average 0.6 point for the week ending October 10, 2019, down from the prior week when it averaged 3.65 percent. A year ago, the 30-year FRM averaged 4.90 percent.

  • 15-year fixed-rate mortgage averaged 3.05 percent with an average 0.5 point, also down from the prior week when it averaged 3.14 percent. A year ago, the 15-year FRM averaged 4.29 percent.

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent with an average 0.3 point, down from its average a week ago of 3.38 percent. A year ago, the 5-year ARM averaged 4.07 percent.

California Land Title Association


1215 K Street #1816 Sacramento, CA 95814-3905
Email: mail@clta.org  |  Phone: 916-444-2647  |   Fax: 916-444-2851