Tag Archives: Mortgage Rates

Mortgage Rate Reported at 3 Month Low

In light of decreasing interest rates, geopolitical concerns, and even the anticipation of the Federal Reserve on the Federal Funds Rate, Freddie Mac has reported another weekly decline in 30 year mortgage rates to 4.63 percent.

If this trend continues, 30 year mortgage rates will not likely have risen the full percentage point as projected from the start of the year to the end of 2018.

This short term reduction, alongside a typical seasonal slowdown in housing sales might just stimulate some buying activity, “if” buyers are paying attention and “also if” they are able to find a desirable home.  The ladder of these issues might be the hardest part.  Though active listings have been trending up in most metropolitan areas they still, for the most part, are well under levels that qualify as a buyers market with multiple properties available and long days on market trends.

As it should be noted, since last week the ten year treasury yield has risen from around 2.83% this time last week to 2.90% as of the time of writing.  This uptick may show a slight  increase in 30 year mortgage rates for next week.

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.