Money Monday: February mortgage rates

Fixed mortgage rates sank to a 10-month low this month.

Photo by 401kcalculator.org

“According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dropped to 4.41 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.46 percent a week ago and 4.32 percent a year ago. The 30-year fixed rate hasn’t been this low since early April.”

“The 15-year fixed-rate average fell to 3.84 percent with an average 0.4 point. It was 3.89 percent a week ago and 3.77 percent a year ago. The five-year adjustable-rate average drifted down to 3.91 percent with an average 0.3 point. It was 3.96 percent a week ago and 3.57 percent a year ago.” (Washingtonpost.com. “Mortgage rates tumble to 10-month low.” 7 February 2019.)

Read the rest of Washington Post’s article here.

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