Mortgage Rates Drop Below 3% – Lowest in 50 Years

Written By Mike Daquino

  • The 30-year, fixed-rate mortgage averaged 2.98% this week, according to Freddie Mac – but any uptick in buyer demand will meet a shrinking inventory of for-sale homes.

  • The 15-year fixed-rate mortgage averaged 2.48% with an average 0.7 point, down from last week’s 2.51%. A year ago, it was 3.23%.

  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.06% with an average 0.3 point, up slightly from last week’s 3.02%. A year ago, it averaged 3.48%.

Mike Daquino
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