Mortgage rates fell for a seventh consecutive week to the lowest level since December, mortgage purchaser Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the mean complaint connected the benchmark 30-year fixed owe decreased to 6.63% from past week's speechmaking of 6.76%. The mean complaint connected a 30-year indebtedness was 6.88% a twelvemonth ago.
The 30-year indebtedness saw the largest play diminution since mid-September, said Sam Khater, Freddie Mac's chief economist.
MORTGAGE RATES FALL TO LOWEST LEVEL IN OVER 2 MONTHS
"The diminution successful rates increases prospective homebuyers’ purchasing powerfulness and should supply a beardown inducement to marque a move," Khater said. "Additionally, this diminution successful rates is already providing immoderate existing homeowners the accidental to refinance. In fact, the refinance stock of marketplace owe applications released this week reached astir 44%, the highest since mid-December."
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The mean complaint connected the 15-year fixed owe fell to 5.79% from 5.94% past week. One twelvemonth ago, the complaint connected the 15-year fixed note averaged 6.22%.
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