Mortgage rates drop to 16-month low

Mortgage Rates Drop To A 16 Month Low – But For How long? october 15, 2014 Shashank Shekhar Growing concerns about weak economic growth and Fed’s indication of delaying rate hikes, plummeted the mortgage rates to the lowest levels in 16 months.

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This week’s average interest rate for a one-year, Treasury indexed, adjustable-rate mortgage is 5.56 percent, down from 5.60 percent last week. A 15-year fixed rate is 7.20 percent, down from 7.30.

Fixed mortgage rates sank to a 10-month low this week amid uncertainty about the health of the economy. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average.

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It’s more affordable to buy a house today as mortgage rates have dropped to a 16-month low. According to Freddie Mac, the 30-year fixed rate mortgage declined to 3.99%, and 3.46% for a fifteen-year fixed rate, both with an average half a point.

Having shed 6 basis points over the past week, the average rate for a benchmark 30-year mortgage has dropped to 4.45 percent, which is 49 basis points below the 7-year high of 4.94 percent it hit this past November and a 9-month low but still 46 basis points above its mark at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey data.

Mortgage Rates Plunge To 16 Month Low Mortgage Rates are the lowest they’ve been in over 1 year. Data released by Freddie Mac last Thursday indicates that the 30-year fixed rate average decreased to just under 4%.

Sluggish Mortgage Demand with Dropping Rates However, a stronger economy, historically low mortgage rates and a rebounding single-family housing market have helped dampen foreclosure activity, real estate experts have said.

Mortgage Rates Continue to Fall as 30-Year Hits 16-Month Low. By. Patrick Barnard-May 30, 2019. 0. The average rate for a 30-year fixed-rate mortgage rate dropped below 4% for the first time since January 2018 this past week. For the week ended May 30,

Adjustable Rate Mortgage: A lower initial interest rate that may vary after a fixed period FHA, VA, USDA: Loan options with low or no down payment requirements and lower interest rate.

The interest rate for a 30-year, fixed-rate mortgage continued its decline last week, falling further below 4% last week and also falling to a 16-month low, according to a new report from Zillow .