Mortgage Rates Still At Record Lows

Dated: 07/16/2016

Views: 258

Mortgage Rates Stay Near Record Low


Mortgage rates barely budged this week, staying near record lows. The 30-year fixed-rate mortgage averaged 3.42 percent this week, just slightly above its all-time record low of 3.31 percent set in November of 2012.

"We describe the last few weeks as A Tale of Two Rates,” says Sean Becketti, Freddie Mac’s chief economist. “Immediately following the Brexit vote, U.S. Treasury yields plummeted to all-time lows. This week, markets stabilized and the 10-year Treasury yield rebounded sharply. In contrast, the 30-year mortgage rate declined after the Brexit vote, but only by half as much as the 10-year Treasury yield. This pattern suggests that mortgage rates are likely to remain low throughout the summer."

Freddie Mac reports the following national averages with mortgage rates for the week ending July 14:

  • 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.5 point, rising slightly from last week’s 3.41 percent. A year ago, 30-year rates averaged 4.09 percent.

  • 15-year fixed-rate mortgages: averaged 2.72 percent, with an average 0.5 point, dropping from last week’s 2.74 percent. A year ago, 15-year rates averaged 3.25 percent.

  • 5-year hybrid adjustable-rate mortgages: averaged 2.76 percent, with an average 0.4 point, rising from last week’s 2.68 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.

Source: Freddie Mac

Take advantage of these low rates and call us today to find your next home! 

Amy Rodriguez - Queen Team - Keller Williams Realty - Kingman, AZ - 928-202-6149

Want to Advertise on this Site?

Latest Blog Posts

Explaining The DISC Personality Test

People are different, but they are different in predictable ways. The DISC test is a wonderful tool to help look at some of the different personality traits people have. Watch the video below to

Read More

The DISC Personality Test And What Drives You

Who doesn't like to learn about themselves? If you're the kind of person who obsesses over taking personality tests, then you should take a minute to take the DISC Personality Test and Values Index.

Read More

Read Books Like Bill Gates

We've all been told that reading is important if you want to be successful, but how do successful people read? Bill Gates takes a moment to talk about how he reads books and gives us some incite on

Read More

TEDx Talk Build The Brain You Want

We would all like to have better, smarter, more effective brains. In this TEDx talk, Lara Boyd goes over some of the common myths about how our brains learn and how we can be working to expand

Read More