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Residential Real Estate News
Mortgage Rates Remain Flat in Late February
According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates held steady in the last week of February, after declining for three consecutive weeks.
Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season."
Freddie Mac News Facts
Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season."
Freddie Mac News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.35 percent with an average 0.5 point for the week ending February 28, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.43 percent.
- 15-year FRM this week averaged 3.77 percent with an average 0.5 point, down from last week when it averaged 3.78 percent. A year ago at this time, the 15-year FRM averaged 3.90 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.84 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.62 percent.
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