Tag Archives: Housing Data

30 Year Mortgage Rates Hold Steady from Last Week

Freddie Mac has reported 30 year mortgage rates have held steady from last weeks drop, at 4.81 percent

 

This hold followed a drop in reported rates from October 11 rates of 4.9 percent and the range up to 4.94 percent reported at the November 8 to November 15 time frame.

As rates steady coming into a seasonally slower period, they are still on pace to have increased a full percentage point from the first of the year.

Going forward, rates are projected to settle in at the low 5 percent range for 2019 with another half point increase projected into 2020.(This from the Freddie Mac Primary Mortgage Survey)

Other than seasonality, the mortgage market is facing a fed which is still tightening and unwinding the quantitative easing purchases.  Comments from the Fed Chairman are being watched closely for any sign in a change on tightening monetary policy and for clues as to what 2019 has in store for interest rates.