Ignite FB Tracking PixelMortgage Rates Remain at All-Time Low - Dave Hiller
Core, Realtors

Mortgage Rates Remain at All-Time Low

by Dave Hiller 06/27/2020

Mortgage News

Great news for prospective home buyers. Mortgage rates remain unbelievaby low.  Thus helping keep homes affordable. For more details read on.

 

The 30-year fixed-rate mortgage stayed at its record low this week, offering an opportunity for home buyers to lock in the lowest rate in Freddie Mac’s records dating back 50 years.

The 30-year fixed-rate mortgage averaged 3.13% this week.

The mortgage market has seen a resurgence in applications for home purchases in recent weeks. “The rebound in purchase demand partly reflects deferred sales as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending June 25:

  • 30-year fixed-rate mortgages: averaged 3.13%, with an average 0.8 point, unchanged from last week’s all-time low average. Last year at this time, 30-year rates averaged 3.73%.
  • 15-year fixed-rate mortgages: averaged 2.59%, with an average 0.8 point, rising slightly from a 2.58% average. A year ago, 15-year rates averaged 3.16%.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.08%, with an average 0.5 point, falling slightly from last week’s 3.09% average. A year ago, 5-year ARMs averaged 3.39%.

Freddie Mac reports average commitment rates along with average fees and points to reflect the total upfront cost of obtaining a mortgage.

Source: 
About the Author
Author

Dave Hiller

SRES ®

Graduate, REALTOR ® INSTITUTE

e-PRO ®

PSA

HOWNW.com Certified Specialist

Core, REALTORS®

License No. 201226626

Oregon Licensed Broker 

Hi, I'm Dave Hiller and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.