Local information about Breckenridge and Summit county real estate and information about what's going on in the County.
Monday, April 15, 2019
Freddie Mac: Mortgage rates rise slightly, expected to remain low
The 30-year fixed-rate mortgage averaged 4.12% this week
Mortgage rates continued to rise further for the week ending April 11, 2019, according to the latest Freddie Mac Primary Mortgage MarketSurvey.
In fact, the 30-year fixed-rate mortgage averaged 4.12% according to the survey, climbing from last week's rate of 4.08%.
Once again, this week’s rate is much lower than 2018’s rate of 4.42%.
“Rates moved up slightly this week whilemortgage applicationsdecreased following last week’s jump in rates – indicating borrower sensitivity to changingmortgagerates,” Freddie Mac Chief Economist Sam Khater said. “Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boostinghomebuyer demandin the next few months.”
The 15-year FRM averaged 3.60% this week, rising from last week’s 3.56%. This time in 2018, the 15-year FRM was significantly higher coming in at 3.87%.
Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.80%, moving forward from last week’s rate of 3.66%. This rate remains moderately higher than the same time period last year, when it averaged 3.61%.