Mortgage rates dipped again this week. A year ago at this time, the average rate for a 30-year fixed-rate mortgage was 4.40%. The average rate for a 15-year fixed-rate mortgage was 3.78%, down from.
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Opinions, estimates, forecasts and other views contained in this document are those of Freddie Mac’s Economic & Housing Research group, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac’s business prospects or expected results, and are subject to change without notice.
The 30-year fixed mortgage rate fell for the fourth consecutive week and hit its lowest level in nearly seven months, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week.
Compare mortgage rates in your area now. The average rate for the benchmark 30-year fixed mortgage is 4.38 percent, up 1 basis point over the last week. A month ago, the average rate on a 30-year.
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In 1971, when Freddie Mac began surveying lenders for mortgage data, interest rates for 30-year fixed-rate mortgages ranged from 7.29% to 7.73%. Throughout the 1970s and 80s, mortgage rates steadily climbed as unchecked inflation contributed to a volatile national economy.
Fixed mortgage rates continued. by Freddie Mac, the 30-year fixed-rate average climbed to 4.43 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan.
· What Is a 40-Year Mortgage? Having a 40-year mortgage means that you have 40 years to pay off your mortgage loan. Most 40-year mortgages carry a fixed-rate, as opposed to an adjustable rate. These kind of mortgages also tend to see a higher interest rate than a 30-year mortgage. Not all lenders will offer the option to pay off your loan over 40 years.
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