Freddie Mac's latest Primary Mortgage Market Survey is reporting this week that the 30-year fixed-rate mortgage in the U.S. was the lowest in three years.
"As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity," said Sam Khater, Freddie Mac's Chief Economist. "The combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home purchase demand continuing to rise over the next few months."
Freddie Mac News Facts
30-year fixed-rate mortgage averaged 3.45 percent with an average 0.7 point for the week ending February 6, 2020, down from last week when it averaged 3.51 percent. A year ago at this time, the 30-year FRM averaged 4.41 percent.
15-year fixed-rate mortgage averaged 2.97 percent with an average 0.7 point, down from last week when it averaged 3.00 percent. A year ago at this time, the 15-year FRM averaged 3.84 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.32 percent with an average 0.2 point, up from last week when it averaged 3.24 percent. A year ago at this.