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Mortgage Rates Are At Their Lowest Levels Since 2013

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Mortgage Rates Are At Their Lowest Levels Since 2013
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This week, 15- and 30-year mortgage rates slipped to their lowest levels since mid-2013, according to Freddie Mac. Mortgage rates have moved lower for three consecutive weeks, corresponding to lower Treasury yields.

Rates on 15-year fixed mortgages average 2.98 percent, down from 3.05 percent last week and 3.45 percent a year ago. For 30-years, fixed mortgages average 3.66 percent, down from 3.73 percent a week ago and 4.41 percent a year earlier.

Despite a strong jobs report, Frank Nothaft, Freddie Mac’s vice president and chief economist, notes that lower oil prices have helped keep long-term Treasury rates down.

Image credit: Public Domain

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