Mortgage Rates Hit another 2014 Low its PMM Survey - Jeff Adams Said

Mortgage Rates Hit another 2014 Low its PMM Survey - Jeff Adams Said. This year end update Low interest rates continue to benefit anyone looking for a mortgage rates, as the average 30-year fixed-rate mortgage rates fell to a new 19-month low in the latest week, slip to 3.80% from 3.93% a past week, This according to Freddie Mac‘s latest Primary Mortgage Market Survey. 

It’s the low average rate recorded since May 2013, and it comes during a week when reserves bond yield also sank to new 2014 lows, with the ten-year Treasury yield which typically sets the tone for advance rates – closing at a year-to-date low 2.071% on Tuesday.

Mortgage rates fell along with ten-year Treasury yields, which closed at their lowest level since May 2013,” said Frank Not haft, Freddie Mac’s chief economist, in a statement, noting that housing starts fell in November from October.

An equal 30-year average rate measured by the (MBA) Mortgage Bankers Association’s latest weekly survey fell to 4.06% from 4.11% a week previous, and the average rate for jumbo loans of more than $417,000 fell to 3.99% from 4.07% a week previous. 

Both of those rates are also now at their lowest since May 2013.The MBA survey also showed mortgage application decrease by 3.3% in the latest week.