QI Research CEO and Chief Strategist Danielle Dimartino Booth will destroy the housing market when he builds unexpectedly increased in “Making Making.”
The mortgage rate has fallen for the fifth consecutive week, reaching its lowest level since December, but has risen nearly 7%.
Freddie Mac’s latest primary mortgage market research, released Thursday, showed that the average rate for benchmark 30-year fixed mortgages has dropped to 6.85% from reading last week at 6.87%. The average 30-year loan fee was 6.9% a year ago.
The “for sale” sign hangs in front of the Patchigue home in New York. (via Steve Pfost / Newsday RM Getty Images / Getty Images)
“The 30-year fixed-rate mortgage was just under 7% for five consecutive weeks, with less than 20 basis points fluctuations in the course of that,” said Sam Carter, chief economist at Freddie Mac. “This stability continues to be proud of the signs for potential buyers and sellers as we approach the spring home view-in season.”
The average rate for fixed mortgages for 2015 fell to 6.04% from 6.09% last week. A year ago, the 15-year fixed note rate averaged 6.29%.
