“The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year history, breaking the record for the third time in just the last few months,” said Sam Khater, Freddie Mac’s Chief Economist. “These unprecedented rates have certainly made an impact as purchase demand rebounded from a 35 percent year-over-year decline in mid-April to an 8 percent increase as of last week—a remarkable turnaround given the sharp contraction in economic activity. Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year. This means a broader base of borrowers are taking advantage of the record low rate environment, which will benefit the economy.”
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Sotheby's International Realty ® is a registered trademark licensed to Sotheby's International Realty Affiliates, Inc. This Web site is not the official Web site of Sotheby's International Realty, Inc. Sotheby's International Realty, Inc. does not make any warranty regarding any information, including without limitation its accuracy or completeness, contained on this site. Equal Housing Opportunity. Visit Sotheby's International Realty
Design By SantaFeWebDesign.com