Mortgage rates hold steady

MCLEAN, Va. — The 30-year fixed-rate mortgage remained unchanged from last week at 3.82%, according to the Primary Mortgage Market Survey from Freddie Mac.

“Mortgage rates were mostly unchanged from last week due to easing of trade tensions with Mexico which helped stabilize markets,” Sam Khater, Freddie Mac’s chief economist, said. “These historically low rates should provide continued opportunities for current homeowners to refinance their mortgages which, combined with new homebuyer activity, will help sustain the momentum in the housing market in 2019.”

According to Freddie Mac:

• 30-year fixed-rate mortgage averaged 3.82% with an average 0.6 point for the week ending June 13, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.62 percent.

• 15-year FRM averaged 3.26% with an average 0.5 point, down from last week when it averaged 3.28%. A year ago at this time, the 15-year FRM averaged 4.07%.

• Five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.51% with an average 0.4 point, down from last week when it averaged 3.52%. A year ago at this time, the five-year ARM averaged 3.83%.

Borrowers may still pay closing costs which are not included in the survey.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since its creation by Congress in 1970, Freddie Mac has made housing more accessible and affordable for homebuyers and renters in communities nationwide.Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

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