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: Mortgage rates below 4% are a glimmer of hope in a rebounding market

The 30-year fixed-rate mortgage averaged 3.99% this week

As economic tension continues to mount, mortgage rates fell below 4% this week to the lowest level since January 2018, according to the latest Freddie Mac Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage averaged 3.99% for the week ending May 30, 2019, down from last week’s rate of 4.06%. A year ago, the rate was 4.56%.

“While economic data points to continued strength, financial sentiment is weakening with the spread between the 10-year and the 3-month Treasury bill narrowing as fears of the impact of the trade war with China grow,” Freddie Mac Chief Economist Sam Khater said. “Lower rates should, however, give a boost to the housing market, which has been on the upswing with both existing and new home sales picking up recently.”

The 15-year FRM averaged 3.46% this week, retreating from last week’s 3.51%. This time last year, the 15-year FRM came in at 4.06%.

Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.6%, declining from last week’s rate of 3.68%. This rate is much lower than the same time period in 2018 when it averaged 3.80%.

The image below highlights this week's changes:Freddie Mac: Mortgage Rates May 30

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