Mortgage Rates Are Dropping Again โ˜˜ Hoey Team โ˜˜ eXp Realty

Dated: October 11 2019

Views: 71

The 30-year fixed-mortgage fell 8 basis points this week, averaging 3.57%, Freddie Mac reports. The lower rates are drawing out more home buyers in the fall market.

“Despite the economic slowdown due to weakening manufacturing and corporate investment, the consumer side of the economy remains on solid ground,” says Sam Khater, Freddie Mac’s chief economist. “The 50-year low in the unemployment rate combined with low mortgage rates has led to increased home buyer demand this year. Much of this strength is coming from entry-level buyers—the first-time home buyer share of the loans Freddie Mac purchased in 2019 is 46%, a two-decade high.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 10:

  • 30-year fixed-rate mortgages: averaged 3.57%, with an average 0.6 point, falling from last week’s 3.65% average. Last year at this time, 30-year rates averaged 4.90%.
  • 15-year fixed-rate mortgages: averaged 3.05%, with an average 0.5 point, falling from last week’s 3.14% average. A year ago, 15-year rates averaged 4.29%.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.35%, with an average 0.3 point, dropping from last week’s 3.38% average. A year ago, 5-year ARMs averaged 4.07%.

Article content from NAR Realtor Magazine and other sources including Freddie Mac

Barry is a CLHMS see here how we can help with higher end properties.

Please visit our Hoey Team โ˜˜ Luxury Home Market Page Here

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  โ˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team โ˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team โ˜˜ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim โ˜˜

Blog author image

Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

"Your Real Estate Concierge" If you are looking for a REALTORยฎ or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

Latest Blog Posts

๐Ÿšจ October 2021 ๐Ÿ“ข Just Released Market Report for Naples Area with information for all of Southwest Florida โ˜˜ Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ SW Fla ๐ŸŒด

Hello,Barry & Kim with the Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ hope that you and yours are doing good.10/22/2021 - Hot off the press please find info from the

Read More

๐Ÿ”” Some Nonbanks Raised Conforming Loan Limits to $625K ๐Ÿ“ˆ Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet.  Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –

Read More

๐Ÿ“ข New Record: Home Prices Rose 19.9% in July ๐Ÿ“ˆ ๐Ÿก Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

A price increase of almost 20% year-to-year is unheard of – until now.  Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.WASHINGTON (AP) ;

Read More

๐Ÿ“ฃ 8 Experts: Sky-High Housing Prices Wonโ€™t Fall ๐Ÿก Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.MCLEAN, Va. –

Read More