US Mortgage Rates Trend Lower for Fourth Consecutive Week
Original Source:
Mortgage Rates Continue to Decline
Mortgage Rates Continue to Decline
Freddie Mac has released its Primary Mortgage Market Survey for the week ending Thursday, August 14.
The 30-year fixed-rate mortgage averaged 6.58%, down from last week when it averaged 6.63%. A year ago at this time, the rate averaged 6.49%.
The 15-year fixed-rate mortgage averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, the rate averaged 5.66%.
Commenting on the results of this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates fell to their lowest level since October. Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.