According to the Freddie Mac's latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage (FRM) averaged 3.66 percent.
"The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment and low mortgage rates," said Sam Khater, Freddie Mac's Chief Economist. "Residential real estate accounts for one-sixth of the economy, and the improving real estate market will support economic growth heading into next year."
Freddie Mac News Facts
30-year fixed-rate mortgage averaged 3.66 percent with an average 0.6 point for the week ending November 21, 2019, down from last week when it averaged 3.75 percent. A year ago at this time, the 30-year FRM averaged 4.81 percent.
15-year fixed-rate mortgage averaged 3.15 percent with an average 0.5 point, down from last week when it averaged 3.20 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.39 percent with an average 0.4 point, down from last week when it averaged 3.44 percent. A year ago at this time, the 5-year ARM averaged 4.09 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.