Mortgage Rates Go Down for the Second Consecutive Week

Decorative wall
Decorative wall

Freddie Mac just released it’s weekly Primary Mortgage Market Survey. It shows U.S weekly average mortgage rates as of  June 7th, 2018.

Freddie Mac 6_7_2018. Primary Mortgage Market Survey. US weekly mortgage averages
Freddie Mac. Primary Mortgage Market Survey. US weekly mortgage averages as of 6/7/2018

This survey shows how U.S weekly average mortgage rates change during the week.

This week’s, June 7th, 2018, survey shows, that 30-year fixed rate mortage went down by 2 points since the last week’s survey.  Mortgage rates went down to 4.54 percent, since the last week survey when it was 4.56 percent.

The 30-year fixed rate mortgage increased by 65 points in a year. For the week of June 8th 2017, when rate average was 3.89%.

The 15-year fixed-rate mortgage went down by 5 points in one week. It is at 4.01 percent now, when last week was 4.06 percent.

The 15-year fixed rate mortgage for the year increased by 85 points. It was 3.16 percent on June 8th, 2017

 

Freddie Mac. US weekly average mortgage os af 6_7_2018
Freddie Mac. US weekly average mortgage as of 6/7/2018

Since April 1971, Freddie Mac has surveyed lenders across the U.S. weekly to determine the average 30-year fixed-rate mortgage rate

Mortgage Rates Go Down

Fence around the property in Hollywood, FL
Fence around the property in Hollywood, FL

Freddie Mac released another weekly Primary Mortgage Market Survey on May 31st,2018. It shows U.S weekly average mortgage rates for the week ending on May 31st,2018.

Mortagge rate dropped during the last week.

Freddie Mac 5_31_2018. US weekly average mortgage rates.
Freddie Mac 5/31/2018. US weekly average mortgage rates.

30-year fixed-rate mortgage dropped by 10 points since May 24th, 2018, when it was 4.66 percent, and current is at 4.56 percent.

15-year fixed-rate mortage dropped by 6 points since the last week’s May 4th, 2018 results of 4.16 percent. Now the 15-year fixed rate mortgage is at 4.06 percent.

Mortgage Rates Just Keep Going Up

Abandoned building in downtown Hollywood, FL
Abandoned building in downtown Hollywood, FL

Freddie Mac released its’ weekly Primary Mortgage Market Survey on May 24th, 2018:

Freddie Mac. 5_24_2018.Primary Mortage Market Survey. US weekly averages mortgage rates.
Freddie Mac. Primary Mortage Market Survey on 5/24/2018. US weekly averages mortgage rates.

This survey shows U.S weekly average mortgage rates and the changes in the rates for the week.

This week’s, May 24th, 2018, survey shows, that 30-year fixed rate mortage went up by 5 points since the last week’s survey.  Mortgage rates moved up over the past week to 4.66 percent.

The 30-year fixed rate mortgage increased by 71 points in a year. For the week of May 25th, 2017, when rate average was 3.95%.

At 4.66% the average mortgage rate is at the highest level since May 5, 2011, when it was 4.71 percent.

Mortgage rates so far in 2018 have risen in 15 out of the first 21 weeks (71 percent). It is the highest share since Freddie Mac began tracking this data for a full year in 1972.

The 15-year fixed-rate mortgage went up by 7 points. It is at 4.15 percent now, when last week was 4.08 percent.

The 15-year fixed rate mortgage for the year increased by 96 points. It was 3.19 percent on May 25th, 2017

Freddie Mac 5_24_2018. US weekly average mortgage rates.
Freddie Mac. US weekly average mortgage rates as of 5/24/2018

If more homeowners decide not to sell their home, because they do not want to get a new mortgage with a higher rate, then available homes shortage can be worse. There would be less homes for buyers to choose from.

Mortgage Rates Go Up to Highest Level in Seven Years

Exterior wall of an older building in Fort Lauderdale,FL
Exterior wall of an older building in Fort Lauderdale,FL

Freddie Mac released it’s Primary Mortgage Market Survey on May 17th, 2018. It shows U.S weekly average mortage rates.

Freddie Mac 5_17_2018. Primary Mortgage Market Survey
Freddie Mac. Primary Mortgage Market Survey. US weekly average mortgage rates for the last 10 years

For the week ending of  May 17th, 2018, 30-year fixed mortgage rate went up by six (6) points since the last week’s survey, and reached 4.61 percent. This matched the highest level since May 19th,2011. The 30-year fixed mortgage increased by 59 points in one year- when in May 18th, 2017 rate was 4.02%.

For the week ending of May 17th, 2018, 15-year fixed mortgage rate went up by seven (7) points since the last week’s survey, and now  it reached 4.08 percent. 15-year FRM increased by 81 points since the last year when it was 3.27 percent.

 

Freddie Mac 5_17_2018. US weekly avera mortgage rates
Freddie Mac – Primary Mortgage Survey. US weekly average mortgage rates os af 5/17/2018

When the interest rates are higher, the home-buyer has to pay more money when getting a loan.

The buyer gets a smaller house. If there is a set amount of money to be spend a month by a home-buyer, then a buyer has to spend more money for interest. There is less money left a month for an actual loan principal to pay.

Mortgage Rates Are Leveling Out

Children decorated tiles
Children decorated tiles

Freddie Mac released its’ weekly Primary Mortgage Market Survey on May 10th, 2018:

FreddieMac.5_10_2018.Primary Mortgage Market Survey. US weekly mortgage averages as of 5_10_2018
Freddie Mac – Primary Mortgage Market Survey. US weekly mortgage averages as of 5_10_2018

Freddie Mac‘s survey shows U.S weekly average mortgage rates.

The survey results as of the May 10th, 2018 shows, that 30-year fixed rate mortage did not change during the week and stayed the same as last week 4.55% . But it is 50 point higher from a year ago.

The 15-year fixed-rate mortgage went down by 2 points. It is 4.01% now, when last week was 4.03%.

FreddieMac. 5_10_2018.Primary Mortgage Market Survey.
Freddie Mac – Primary Mortgage Market Survey. Interest Rates.

If you would like to read more about mortgages and interest rates, look into category in my blog Finance and Mortgage category.