Freddie Mac, Mortgage Rates Lower

Freddie Mac announced in their Primary Mortgage Market Survey that average fixed rate mortgages declined after three weeks of increasing rates. Here are the results:

15 year fixed rate mortgage – averaged 2.73 %

30 year fixed rate mortgage – averaged 2.74%

A lot of borrowers are still taking advantage of these rates by refinancing. The Mortgage Bankers Association shows refinance activity has increased 55 % from last year at this time. 

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