US 30-Year Mortgage Rates Decline to Lowest Level in Over Two Months
Original Source:
Mortgage Rates Continue to Drop
Mortgage Rates Continue to Drop
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, February 27.
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.85%. A year ago at this time, the 30-year rate averaged 6.94%.
The 15-year fixed-rate mortgage averaged 5.94%, down from last week when it averaged 6.04%. A year ago at this time, the 15-year rate averaged 6.26%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“This week, mortgage rates decreased to their lowest level in over two months. The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home.”
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