Freddie Mac Reports Rates Continue Lower for 4th Week in a Row

Freddie Mac’s PMMS Report reveals that conforming mortgage rates continued to trend lower last week with the 30 year conventional averaging 3.79% with 0.6 points.

From Freddie Mac’s Chief Economist, Stan Becketti:

“The yield on the 10-year Treasury stabilized around 2 percent this week, and the 30-year mortgage rate dipped 2 basis points to 3.79 percent. The recent market turmoil has given the Fed pause; as was universally expected, the Fed stood pat this week but kept its options open for a rate increase in March. This week’s housing releases confirmed the momentum of home sales going into 2016. A hesitant Fed, sub-4-percent mortgage rates (at least for a little while longer), and strong housing fundamentals should generate a three percent increase in home sales this year.”

EDITORS NOTE: Rate posted below is expired. If I can provide you with a current rate quote for your Washington state home, click here.

Freddie Mac’s rate report is based on rates from last week. As I write this post, 12:10 pm on January 28, 2016, I’m quoting for a 30 year conventional:

3.750% priced with 0.704 points (apr 3.868%).

The pricing is slightly improved compared to last week’s rate post – consistent with Freddie Mac’s reporting. 🙂

Rate quoted above is based on a purchase in the greater Seattle – King County area with a sales price of $500,000, 20% down payment and a conventional loan amount of $400,000. The home buyers have excellent credit with credit scores of 740 or higher and the transaction is closing by March 4, 2016 or sooner.

Rates quoted are subject to credit approval and may change at any time. Payments quoted above do not include property taxes or insurance and are principal and interest only. This is just a small sample of the mortgage rates and programs that I have available. If you would like me to provide you with a mortgage rate quote for your home purchase or refinance on your home located anywhere in Washington state, please click here.