Freddie Mac: Mortgage Rates Drop In January 2020
January 9, 2020 10:21 AM
Navi Persaud

Freddie Macs' recent Primary Mortgage Market Survey is showing a 0.7 percent decline in the 30-year fixed-rate mortgage as January 2020 gets underway.

"Mortgage rates fell to the lowest level in thirteen weeks, as investors sought the quality and safety of the U.S. Treasury fixed income markets," said Sam Khater, Freddie Mac’s Chief Economist, in a recent press release.

"The drop in mortgage rates, combined with the strong labor market, should propel a continued rise in homebuyer demand."

Meanwhile, the 15-year fixed-rate mortgage also fell 0.7 percent with the 5-year Treasury-indexed hybrid adjustable-rate mortgage falling 0.3 percent. The release also revealed that just a year ago at this time, the 30-year FRM now at 3.64 percent, averaged 4.45 percent.

You can check out Freddie Mac's full Primary Mortgage Market Survey by clicking here.

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