Mortgage Rates Near 2015 Lows

by Laura Matiz 

The most recent report (February 11. 2016) from Freddie Mac's Primary Mortgage Market Survey shows 30-year-fixed mortgage rates hitting 3.65%, near the 2015 low of 3.59%. Experts expect the rate to continue south, but whether we approach the 2012 historical lows (3.3%) is to be seen. 

The lower cost of financing homes along with an improving labor market will offset home price increases expected this spring. Assuming global instability doesn't turn for the worse, I expect a robust spring in the Manhattan and Brooklyn apartment sales, especially in the $1M-5M market. 

 The best way to shop for a mortgage loan is via a mortgage banker. Please contact me if you need a referral.

Related market outlook reports from Freddie Mac:

• Mortgage Rates Down Again, Hovering Just Above 2015 Lows (Feb 11, 2016)
• Lower-Than-Expected Mortgage Rates Offer Refinance Opportunity (Feb 4, 2016)

Categories: Mortgages