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Mortgage Rates Drop to 2-Year Lows

Saturday, June 8, 2019   /   by Carlos J Higareda

Mortgage Rates Drop to 2-Year Lows





June 7, 2019
















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



® REALTOR® Magazine






This marks the sixth consecutive weekly decline for mortgage rates, leaving some borrowers wondering how low will they go. The 30-year fixed-rate mortgage averaged 3.82% this week, the lowest average since September 2017.



“While the drop in mortgage rates is a good opportunity for consumers to save on their mortgage payment, our research indicates that there can be a wider dispersion among mortgage rate offers,” says Sam Khater, Freddie Mac’s chief economist. “By shopping around and getting a single additional mortgage rate quote, a borrower can save an average of $1,500.”


Freddie Mac reports the following national averages with mortgage rates for the week ending June 6:



  • 30-year fixed-rate mortgages: averaged 3.82%, with an average 0.5 point, falling from last week’s 3.99%. Last year at this time, 30-year rates averaged 4.54%.

  • 15-year fixed-rate mortgages: averaged 3.28%, with an average 0.5 point, falling from last week’s 3.46% average. A year ago, 15-year rates averaged 4.01%.

  • 5-year hybrid adjustable-rate mortgages: averaged 3.52%, with an average 0.4 point, falling from last week’s 3.60% average. A year ago, 5-year ARMs averaged 3.74%.










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Carlos Higareda
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