Mortgage Rates for January 2016

For week of January 21, 2016
Mortgage rates have declined every week so far in 2016 and are currently at their lowest levels since the fall, a fact that could help motivate hesitant homebuyers who have been sitting on the fence.
  • That’s according to the most recent numbers from Freddie Mac, which said that 30-year, fixed-rate mortgages fell to 3.81 percent for the week ended Jan. 21, down from 3.92 percent from a week earlier and up from 3.63 percent a year ago. Fifteen-year mortgage rates displayed a similar pattern, dropping from 3.19 percent to 3.10 percent on a weekly basis but up from 2.93 percent year over year.In a statement accompanying the report, Freddie Mac Chief Economist Sean Becketti attributed the declines to weak inflation in 2015 and global economic turmoil, which is driving investors to treasuries.

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Weekly Mortgage Watch

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30 Year Mortgage Rate is at 4.04%, compared to 4.09% last week . Lowest 30 year rate touched in last 10 years is 3.53%.15

15 Year Mortgage Rate is at 3.21%, compared to 3.25% last week. Lowest 15 year rate touched in last 10 years is 2.83%.5/1

Adjustable Rate Mortgage Rate is at 2.97%, compared to 2.96% last week. Lowest 5/1 Adjustable Rate touched in last 10 years is 2.69%.

We are seeing a consistent upward movement in rates. Freddie Mac’s Primary Mortgage Market Survey June 2007 to June 2015.