Freddie Macs results of its Primary Mortgage Market Surveyreg; shows that "Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017. While the improvement has yet to impact home sales, therersquo;s a clear firming of purchase demand that should translate into higher home sales in the second half of this year."
bull; 30-year fixed-rate mortgage FRM averaged 3.75 percent with an average 0.5 points for the week ending July 25, 2019, up from last month when it averaged 3.73 percent. A year ago, at this time, the 30-year FRM averaged 4.54 percent.
bull; 15-year FRM this week averaged 3.18 percent with an average 0.5 points, up from last month when it also averaged 3.16 percent. A year ago, at this time, the 15-year FRM averaged 4.02 percent.
bull; 5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.47 percent this week with an average 0.4 points, up from last month when it averaged 3.39 percent. A year ago, at this time, the 5-year ARM averaged 3.87 percent.
