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Fixed-Rate Mortgages Achieve 12-Month Low

Fixed-rate mortgages have fallen to their lowest levels since early 2018, according to the Primary Mortgage Market Survey from Freddie Mac.

“The combination of cooling inflation and slower global economic growth led mortgage rates to drift down to the lowest levels in a year,” said Sam Khater, chief economist for Freddie. “While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring homebuying season.”

News Facts

  • 30-year fixed-rate mortgage averaged 4.37 percent with an average 0.4 point for the week ending Feb. 14, 2019, down from last week when it averaged 4.41 percent. A year ago, the 30-year FRM averaged 4.38 percent.
  • 15-year fixed-rate mortgage this week averaged 3.81 percent with an average 0.4 point, down from last week when it averaged 3.84 percent. A year ago, the 15-year FRM averaged 3.84 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.88 percent with an average 0.3 point, down from last week when it averaged 3.91 percent. A year ago, the 5-year ARM averaged 3.63 percent.

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