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Mortgage rates barely moved, hovering at or near the record lows set last week. The Freddie Mac survey showed 30-year, fixed-rate mortgages averaged 3.66% for the week ending Thursday, matching the previous week’s record low. Last year at this time, the 30-year FRM averaged 4.51%. The 15-year FRM, a popular refinancing choice, averaged 2.94% down from last week‘s average of 2.95%. A year ago, the average rate for a 15-year FRM was 3.69%. Five-year, Treasury-indexed, hybrid adjustable-rate mortgages averaged 2.79%, rising from 2.77% last week and falling from 3.22% a […]

For the fifth week, fixed-rate mortgages reached new all-time lows. The 15-year fixed-rate mortgage dipped below 3 percent, settling into uncharted territory, according to Freddie Mac’s weekly mortgage market survey. Thirty-year fixed-rate mortgages also reached new record lows, continuing to stay under 4 percent and pushing home buyer affordability even higher. “Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower, which translates into nearly $1,200 less in annual payments on a $200,000 loan,” says Frank Nothaft, Freddie Mac’s chief economist. Here’s a […]