Mortgage Rates Hold Steady Last Week

According to Freddie Mac’s Primary Mortgage Market Survey, rates on 30-year fixed mortgages remained unchanged from the previous week at 4.50% and averaged 0.8 points. Rates have continued to hold relatively steady for quite awhile now, as last year at this time the 30-year fixed rate averaged 4.69%. The 15-year fixed rate mortgage average edged up to 3.69% from 3.67%, but still remains much lower than a year ago when it averaged 4.13%. With the housing market still soft and mixed forecasts from experts, it remains crucial to have lower rates to generate lending activity from those looking to purchase.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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