According to Sam Khater, Freddie Mac’s
chief economist, the lower mortgage rates are getting positive results
from home buyers across the nation. Mortgage applications for home
purchases are rising steadily and have seen the highest year-over-year
change since the fall of 2017.
Here is a look at the national averages with mortgage rates Freddie Mac reported for the week ending July 25, 2019:
The 30-year fixed rate mortgages averaged 3.75% with an average 0.5 point. This was a dip from the week prior which was at an average of 3.81%. July of 2018 reported 30-year rates averaged 4.54%.
The 15-year fixed mortgages reported as the following. They averaged
3.18%, with an average 0.5 point. Again, this was a lower than last
week’s which reported 3.23% average. This time last year the 15-year
rates averaged 4.02%.
The average 5-year hybrid adjustable-rate mortgages was 3.47%, with an average 0.4 point. Another fall from last week’s 3.48% average. A year ago the 5-year hybrid adjustable-rate mortgages (ARMs) averaged 3.87%
“While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into higher home sales in the second half of this year,” Khater says.
Click Here For the Source of the Information.
Here is a look at the national averages with mortgage rates Freddie Mac reported for the week ending July 25, 2019:
The 30-year fixed rate mortgages averaged 3.75% with an average 0.5 point. This was a dip from the week prior which was at an average of 3.81%. July of 2018 reported 30-year rates averaged 4.54%.
The average 5-year hybrid adjustable-rate mortgages was 3.47%, with an average 0.4 point. Another fall from last week’s 3.48% average. A year ago the 5-year hybrid adjustable-rate mortgages (ARMs) averaged 3.87%
“While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into higher home sales in the second half of this year,” Khater says.
Click Here For the Source of the Information.
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