Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year. Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”
• 30-year fixed-rate mortgage (FRM) averaged 4.35 percent with an average 0.5 points for the week ending February 21, 2019, down from last week when it averaged 4.37 percent. A year ago, at this time, the 30-year FRM averaged 4.40 percent.
• 15-year FRM this week averaged 3.78 percent with an average 0.4 points, down from last week when it also averaged 3.81 percent. A year ago, at this time, the 15-year FRM averaged 3.85 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.84 percent this week with an average 0.3 points, down from last week when it averaged 3.88 percent. A year ago, at this time, the 5-year ARM averaged 3.65 percent.