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Lowest Mortgage Rates Ever Recorded by Freddie Mac!

Lowest Mortgage Rates Ever Recorded by Freddie Mac!

Mortgage rates for 30, 15, ARM. Full information at http://www.freddiemac.com/pmms/

The 30-year fixed-rate mortgage hit its 11th record of the year this week, averaging 2.80%—the lowest rate ever recorded by Freddie Mac.

“Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so,” says Sam Khater, Freddie Mac’s chief economist. “Mortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.”

The low loan rates are fueling a hot housing market as buyers rush to lock in the rates. In September, existing-home sales jumped 21% compared to a year ago, the National Association of REALTORS® reported this week.

Freddie Mac reports the following national averages for mortgage rates for the week ending Oct. 22:

  • 30-year fixed-rate mortgages: Averaged 2.80%, with an average 0.6 point, dropping from last week’s previous all-time low of 2.81%. Last year at this time, 30-year rates averaged 3.75%.
  • 15-year fixed-rate mortgages: Averaged 2.33%, with an average 0.6 point, dropping from last week’s 2.35% average. A year ago, 15-year rates averaged 3.18%.
  • 5-year hybrid adjustable-rate mortgages: Averaged 2.87%, with an average 0.3 point, falling from last week’s 2.90% average. A year ago, 5-year ARMs averaged 3.40%.

Freddie Mac reports average commitment rates along with average points to reflect the total upfront cost of obtaining a mortgage.

Premiere Plus Realty Co. | The Whitcomb Group
Scott Whitcomb
8955 Fontana Del Soy Way
Naples, FL 34109
239-595-5547
239-595-5547

The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2020. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
2020 Royal Palm Coast REALTORĀ® Association. All rights reserved. Information has not been verified, is not guaranteed, and is subject to change. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) of the Florida Gulf Coast Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Last Updated: 11/30/2020 7:55 AM CST
The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact Data last updated 11/30/2020 7:55 AM CST.
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2020. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
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