Mortgage Rates Moved Slightly Lower This Week

Dated: 05/21/2019

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May 17, 2019

Mortgage rates for 30, 15, ARM. Full information at http://www.freddiemac.com/pmms/

® REALTOR® Magazine

Home buyers saw mortgage rates edge lower again this week, with rates remaining well below year ago levels. 

“Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve,” said Sam Khater, Freddie Mac’s chief economist. “While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth and five-decade low unemployment rates, which will drive up home sales this summer.”

Freddie Mac reported the following national averages with mortgage rates for the week ending May 16:

  • 30-year fixed-rate mortgages averaged 4.07 percent, with an average 0.5 point, dropping from last week’s 4.10 percent average. A year ago, 30-year rates averaged 4.61 percent.
  • 15-year fixed-rate mortgages averaged 3.53 percent, with an average 0.4 point, falling from last week’s 3.57 percent average. A year ago, 15-year rates averaged 4.08 percent.
  • 5-year adjustable-rate mortgages averaged 3.66 percent, with an average 0.4 point, rising from last week’s 3.63 percent average. Last year at this time, 5-year ARMs averaged 3.82 percent.
Source: 
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Kaila Lindsey

Kaila was born and raised in New York, until in 2002 her family packed up and boarded a 40’ RV headed for adventure. During that year of travel, cultural lines blurred and she was able to experience....

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