Mortgage Rates Inch Down
By CU Today Staff —
MCLEAN, Va., The 30-year fixed-rate mortgage ticked lower this past week, averaging 6.09%, Freddie Mac reported.
“Bolstered by strong economic growth, a solid labor market and mortgage rates at three-year lows, housing affordability continues to measurably improve. These factors have caught the attention of many prospective homebuyers, driving purchase application activity higher than a year ago,” said Sam Khater, Freddie Mac’s chief economist.
The 30-year FRM averaged 6.09% as of Feb. 12, down from last week when it averaged 6.11%. A year ago at this time, the 30-year FRM averaged 6.87%. The 15-year FRM averaged 5.44%, down from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 6.09%, Freddie Mac reported.
Originally reported by CU Today.