Mortgage Rates Unchanged – 30-Year Loan at 3.73% ☘ Hoey Team ☘ eXp Realty Florida

Dated: December 30 2019

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While unchanged week-to-week, the rate is still almost a full point lower year-to-year. In Nov. 2018, the 30-year FRM averaged 4.62%.

Mortgage Interest rates remain low, it is a good time to buy

WASHINGTON (AP) – U.S. long-term mortgage rates were unchanged this week, staying near historically low levels.

Mortgage buyer Freddie Mac says the average rate for a 30-year fixed-rate mortgage held at 3.73% for the second straight week. The benchmark rate was 4.62% a year ago, a level that appears to have depressed home sales as interest rates increased in response to higher federal budget deficits following President Donald Trump’s tax cuts.

But interest rates have tumbled over the past 12 months due to greater uncertainty over trade with China, slower economic growth and the Federal Reserve cutting a benchmark rate regarding the interest on inter-bank loans.

The average rate on a 15-year mortgage stayed at 3.19% for a second consecutive week.

Article content from Florida Realtor Newsletter / Magazine; Freddie Mac, and from other sources.   If you have questions on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can answer your questions, and are always available to help.

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