Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01
MortgageMortgage Rates

Freddie Mac: After four consecutive weeks of rising, mortgage rates finally fall

The 30-year fixed-rate mortgage averaged 4.14% this week

After four weeks of consecutive gains, mortgage interest rates finally reversed course, according to the latest Freddie Mac Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage averaged 4.14% for the week ending May 2, 2019, down from last week’s rate of 4.20%. A year ago, the rate was 4.55%.

Freddie Mac Chief Economist Sam Khater said labor economic data and slightly weaker inflation caused mortgage rates to dip this week.

“Moving into summer, we expect rates to be about a quarter to half a percentage point lower than where they were last year, which is good news for the housing market,” Khater said. “These lower rates combined with solid economic growth, low inflation and rebounding consumer confidence should provide a solid foundation for home sales to continue to improve over the next couple of months.”

The 15-year FRM averaged 3.60% this week, retreating from last week’s 3.64%. This time last year, the 15-year FRM sat significantly higher at 4.03%.

Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.68%, falling backwards from last week’s rate of 3.77%. This rate remains only slightly higher than the same time period in 2018, when it averaged 3.69%.

Freddie Mac: Mortgage Rates May 2

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please