Freddie Mac’s latest Primary Mortgage Market Survey shows that the average U.S. 30-year fixed-rate mortgage is at record-low 3.66%.
Freddie Mac, in its June 28 announcement, added that the 15-year fixed-rate mortgage is also at record-low 2.94%.
A year ago, the 30-year fixed-rate mortgage averaged at 4.51%; while the 15-year fixed-rate mortgage last year averaged at 3.69%.
These record lows mortgage rates keep homebuyer affordability high for those in the market to buy and for those looking to refinance.
Frank Nothaft, vice president and chief economist of Freddie Mac, said in a statement, “Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market.”
Meanwhile, the home price indexes of both the Federal Housing Finance Agency and S&P/Case Shiller 20-city composite showed more than 0.5% monthly increase in April this year.
Whether you are a first-time home buyer, first-time home seller, empty nester, thinking about selling a home or buying a home, do contact the Guldi Real Estate Group. In Southern Maryland, the Guldi Group is the number one real estate team.