According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate stayed within a two basis point range for the third straight week.
Sean Becketti, chief economist of Freddie Mac commented, "The 30-year fixed mortgage fell two basis points to 4.17 percent this week. Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday's jobs report and uncertainty about the Administration's fiscal policies have contributed to the holding pattern in rates."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.4 point for the week ending Feb. 9, 2017, down from last week when it averaged 4.19 percent. A year ago at this time, the 30-year FRM averaged 3.65 percent.
15-year FRM this week averaged 3.39 percent with an average 0.4 point, down from last week when it averaged 3.41 percent. A year ago at this time, the 15-year FRM averaged 2.95 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.4 point, down from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.83 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.