According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. averaged 3.64 percent. September 2019 has been the most volatile month since March, in terms of the 30-year fixed-rate mortgage, averaging a weekly movement of 11 basis points.
Sam Khater, Freddie Mac's Chief Economist, says, "With both the unemployment rate and mortgage rate below four percent and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity."
Freddie Mac News Facts
30-year fixed-rate mortgage averaged 3.64 percent with an average 0.6 point for the week ending September 26, 2019, down from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 4.72 percent.
15-year fixed-rate mortgage averaged 3.16 percent with an average 0.5 point, down from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 4.16 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.38 percent with an average 0.4 point, down from last week when it averaged 3.49 percent. A year ago at this time, the 5-year ARM averaged 3.97 percent.
According to global real estate consultant CBRE, there were 1,531 small U.S. property acquisitions in H1 2019, representing 36.7% of all multifamily asset purchases and revealing the scope of small asset buying.
U.S. Environmental Protection Agency Administrator and Department of the Army for Civil Works are repealing a 2015 rule that impermissibly expanded the definition of "waters of the United States" (WOTUS) under the Clean Water Act.
According to the National Association of Realtors, U.S. existing-home sales inched up in August 2019, marking two consecutive months of growth. Three of the four major regions reported a rise in sales, while the West recorded a decline last month.
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released this week, U.S. builder confidence in the market for newly-built single-family homes rose one point to 68 in September 2019 from an upwardly revised August 2019 reading of 67.
According to Freddie Mac's latest Primary Mortgage Market Survey for the first week of September 2019, the 30-year fixed-rate mortgage rate in the U.S. averaged 3.49 percent, the lowest it has been since October 2016.
Join 34,000+ real estate professionals worldwide who receive our free weekly newsletter