Redfin CEO Glenn Kelman unleashes the state of the housing market with “Barron's Roundtable.”
Mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest primary mortgage market research, released Thursday, showed that the average rate for benchmark 30-year fixed mortgages was down to 6.63% from last week's 6.76% reading. The average rate for a 30-year loan was 6.88% a year ago.
Freddie Mac Chief Economist Sam Carter said 30-year loans fell in the biggest week since mid-September.
“For Sale” sign at a Philadelphia home on August 16th, 2024. (Getty Images/Joe Lamberti via Getty Images/Bloomberg)
Mortgage rates drop to the lowest level after 2 months or more
“The drop in fees should provide a strong incentive to boost the purchasing power of future home buyers and move forward,” Khater said. “And this rate drop has already given existing homeowners the opportunity to refinance. In fact, the market mortgage application released this week has reached nearly 44%, the highest since mid-December.”
Pending home sales fall in January as they fall
Freddie Mac Chief Economist Sam Carter said 30-year loans fell in the biggest week since mid-September. (via Steve Pfost / Newsday RM Getty Images / Getty Images)
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The average rate for fixed mortgages for 2015 fell to 5.79% from 5.94% last week. A year ago, the average percentage of fixed notes in 15 years was 6.22%.
