According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates moved up slightly over the past week to their highest level since late June 2018.
"The next few months will be key for gauging the health of the housing market," said Freddie Mac Chief Economist Sam Khater. "Existing sales appear to have peaked, sales of newly built homes are slowing and unsold inventory is rising for the first time in three years."
Added Khater, "Meanwhile, affordability pressures are increasingly a concern in many markets, as the combination of continuous price gains and higher mortgage rates appear to be giving more prospective buyers a pause. This is why new and existing-home sales are not breaking out this summer despite the healthy economy and labor market."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.54 percent with an average 0.5 point for the week ending July 26, 2018, up from last week when it averaged 4.52 percent. A year ago at this time, the 30-year FRM averaged 3.92 percent.
15-year FRM this week averaged 4.02 percent with an average 0.4 point, up from last week when it averaged 4.00 percent. A year ago at this time, the 15-year FRM averaged 3.20 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent this week (unchanged from last week) with an average 0.4 point. A year ago at this time, the 5-year ARM averaged 3.18 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. dropped 10 basis points to 4.31 percent. Mortgage rates declined decisively this week amid various market reports.
According to CBRE's latest U.S. Data Center Trends Report, demand from large cloud users drove U.S. data center leasing to record levels in 2018, providing momentum for new construction in the sector this year.
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. Mortgage rates remained mostly unchanged this week.
According to the National Association of Realtors, existing-home sales in the U.S. experienced a dip for the third consecutive month in January 2019. Of the four major U.S. regions, only the Northeast saw an uptick in sales activity last month.
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