Uncertainty keeping mortgage rates low: Freddie Mac

WASHINGTON – The average U.S. rate on a 30-year fixed mortgage fell this week to a record low for the seventh time in eight weeks. Cheap mortgages have helped drive a modest recovery in the weak.

Takeaways on Home Mortgage Rates in 2018 and Beyond. NEWS: According to a recent report last week by Freddie Mac, the fixed 30-year mortgage rates average bumped up to 3.85% with an average 0.5 point. It was 3.83% a week ago and 3.42% a year ago. The fixed 15-year mortgage rates average rose to 3.15% with an average 0.5 point.

Rates for home loans fell to a seven-week low as ongoing economic uncertainty kept a tight lid on bond yields, mortgage provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.89% during the August 17 week, down from 3.90% in the prior week and now just one basis point above its 2017 low.

According to Freddie Mac, borrowers received rate quotes ranging from 4.2% to 4.8%. That’s way a patient search process is vital for you to get the best deal. Good Luck with Your low rate mortgage search. Bookmark this page because it will be updated with more news on mortgage rate savings!

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"Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months," Freddie Mac Chief Economist Sean Becketti said. Click to Enlarge. (Source: Freddie Mac) The 30-year fixed-rate mortgage dropped to 3.89% for the week ending June 8, 2017.

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 · Freddie Mac’s Primary Mortgage Market Survey showed rates for 30-year fixed-rate mortgages averaged 3.98 percent with an average 0.7 point for the week ending Nov. 23, down from 4 percent last week and 4.4 percent a year ago. Rates on 30-year fixed-rate loans hit a 2011 high of 5.05 percent in February, before plummeting to an all-time low in records dating to 1971 of 3.94 percent.

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According to Freddie Mac’s latest Primary Mortgage Market Survey for June 2017, the average U.S. mortgage rate continuing to hold at year-to-date lows amidst ongoing economic uncertainty. Sean Becketti, chief economist of Freddie Mac said, "Following last week’s sharp decline, the 10-year Treasury yield rose 3 basis points this week.

Soldiers returned and factories initiated regular production again. Rates steadily ticked up but remained under 5% until 1956. 1970s. Thanks to Freddie Mac, there is solid data available for 30-year fixed-rate mortgage rates beginning in 1971. Rates in 1971 were in the mid-7% range, and they moved up steadily until they were at 9.19% in 1974.