According to Freddie Mac's latest Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. remained unchanged for the third consecutive week in late January 2019.
Sam Khater, Freddie Mac's chief economist, says, "Mortgage rates have stabilized during the last month and are essentially at the same level as last spring - yet the most recent home sales are roughly half a million lower over the same period. Given that the economy remains on solid footing and weekly mortgage purchase application activity has been strong so far in 2019, we expect the decline in home sales to moderate or even reverse over the next couple of months."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.45 percent with an average 0.4 point for the week ending January 24, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.15 percent.
15-year FRM this week averaged 3.88 percent with an average 0.4 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.62 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.90 percent with an average 0.3 point, up from last week when it averaged 3.87 percent. A year ago at this time, the 5-year ARM averaged 3.52 percent.
A total of 161,875 U.S. properties with a foreclosure filing during the first quarter of 2019, down 23 percent from the previous quarter and down 15 percent from a year ago to the lowest level since Q1 2008.
Home sellers in the United States spend $20,851 on average to sell their homes. This includes closing costs, but also the improvements and other projects made when people are preparing their homes for sale.
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index, U.S. builder confidence in the market for newly-built single-family homes held steady at 62 in March 2019.