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Big Drop in Mortgage Rates

Big Drop in Mortgage Rates

Mortgage rates fell sharply due to trade war anxiety, with investors fleeing to long-term bonds. Per Freddie Mac, average rate on the 30-year mortgage dropped to 3.60% from 3.75% last week and from 4.59% 12 months ago. 15-year, fixed-rate home loans tumbled to 3.05% from 3.20% last week. Last week, the Federal Reserve cut its [...]
Mortgage Rates Near 3-year Low

Mortgage Rates Near 3-year Low

For the second week now, mortgage have stayed at a low point not seen since 2016/2017. 30-year, fixed-rate mortgage averaged 3.75% nationally, holding steady from the previous week, according to the Freddie Mac. “The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodative tone from the Federal Reserve to respond to [...]