Mortgage rates fall to one-year low, setting the stage for a sunny spring selling season – MarketWatch

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Rates for home loans fell to the lowest in over a year as investors remained concerned about economic headwinds, setting up the housing market for a strong spring season.

The 30-year fixed-rate mortgage averaged 4.35% in the February 21 week, mortgage guarantor Freddie Mac said Thursday. That was down from 4.37% in the prior week and the lowest since early February 2018. The popular product has eked out a weekly increase only once in 2019.

Rates for home loans fell to the lowest in over a year as investors remained concerned about economic headwinds, setting up the housing market for a strong spring season.

The 30-year fixed-rate mortgage averaged 4.35% in the February 21 week, mortgage guarantor Freddie Mac said Thursday. That was down from 4.37% in the prior week and the lowest since early February 2018. The popular product has eked out a weekly increase only once in 2019.

The 15-year adjustable-rate mortgage averaged 3.78%, down three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.88%, down from 3.84%. Those rates don’t include fees associated with obtaining mortgage loans. Mortgage rates move in near lockstep with the 10-year U.S. Treasury note TMUBMUSD10Y, -1.30% although sometimes it takes the mortgage market a few days to catch up to the bond market…

Read more: https://www.marketwatch.com/story/mortgage-rates-fall-to-one-year-low-setting-the-stage-for-a-sunny-spring-selling-season-2019-02-21

By: Andrea Riquier – MarketWatch

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