30-year, fixed-rate mortgage finishes year near record lows

The most popular mortgage, the 30-year fixed-rate, came in at 3.4%, 0.09 percentage point above its record low. "The housing market is getting a boost, with mortgage rates hovering at or near record.

WASHINGTON (AP) – Fixed mortgage rates fell this. when the average 30-year fixed rate was near 6.5 percent. Yet sales of new homes are on pace to finish the year as the lowest on records dating.

Mortgage rates remain near record lows for modern era March 4, 2010 | 9:00 am The typical rate that lenders were offering for 30-year home loans slipped below 5% again this week, the mortgage company freddie mac said in a survey released Thursday.

Text size. WASHINGTON – Rates on 30-year fixed mortgages fell this week to the lowest level of the year and were barely shy of the record low. The mortgage finance company Freddie Mac said the average rate sank to 4.72 percent, down from 4.79 percent last week. It was just above the record of 4.71, set in December.

The 30 year fixed loan is one of the most popular mortgage programs. With a 30 year fixed rate mortgage you lock in today’s interest rate for thirty years. The opposite of a fixed rate mortgage is an adjustable rate mortgage (ARM). With interest rates near historic lows, locking in today’s rate is a very smart move for most people.

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Seattle Mortgage Broker: Mortgage Rates Near 3-Week Lows. Rates for home loans edged up as financial markets stabilized on hope about global trade, but held near long-time lows. The 30-year fixed-rate mortgage averaged 3.75% in the holiday-shortened July. The benchmark 15-year fixed-rate mortgage fell to 3.03 percent from 3.12 percent.

A 15 year fixed rate mortgage, however, is also at record lows at 4.03%, falling another three-one-hundredths of a percent from the previous week, according to Freddie Mac. The five year adjustable rate mortgage also experienced a decline to 3.79% on the five year treasury indexed loan.

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30-Year Mortgage Rates at Near-Record Lows. Interest rates for a 30-year fixed rate mortgage have been on the decline since November. Rates are reaching lows last seen in January 2018. Rates spiked in November 2018 to over 5%. The overall average rate for 2018 was 4.5%.

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News Facts 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this.

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