According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates stabilized in early July 2019, after trading within a narrow range over the last month.
Sam Khater, Freddie Mac's chief economist, says, "We're seeing a tug of war happen as the fixed income market flashes warning signs while the equities market continues to march higher with optimism."
"The data suggests the economy is weakening but is still on very solid ground with high consumer confidence and a strong labor market. Closer to home, the housing market continues to slowly improve and gain momentum as we head into the second half of the year, which is good news and should keep the economy growing," he concludes.
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.75 percent with an average 0.6 point for the week ending July 3, 2019, up from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 4.52 percent.
15-year FRM averaged 3.18 percent with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 3.99 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.45 percent with an average 0.4 point, up from last week when it averaged 3.39 percent. A year ago at this time, the 5-year ARM averaged 3.74 percent.
International property consultant CBRE is reporting this week that global commercial real estate investment volume in Q4 of 2019, including entity-level deals, was nearly level (-0.5%) with Q4 2018, while full-year volume fell by 2% from 2018.
According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined -- the U.S. ($20.5 trillion) and China ($13.6 trillion).
Based on research from Learnbonds.com indicates that U.S. mortgage debt is now the highest since the Great Depression in 2008. The outstanding US mortgage debt which has been growing steadily in recent years hit a record high of $15.8 trillion in Q3 2019.