Mortgage interest rates drop to lowest level in nine months
PORTLAND, OR, Jan. 10, 2019 (RISI) -Freddie Mac released the results of its Primary Mortgage Market Survey, showing rates dropped significantly across the board.
Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates fell to the lowest level in nine months, and in response, mortgage applications jumped more than 20%. Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales.”
The 30-year fixed-rate mortgage (FRM) averaged 4.45% with an average 0.5 point for the week ending January 10, 2019, down from last week when it ...