Mortgage Rate History
Mortgage rates continue their downward trend, even after the Federal Reserve announced Wednesday a plan to continue to tighten monetary policy.
According to Freddie Mac, the national 30 yr fixed averaged remains at 4.62% today, which marks the eighth consecutive week that the benchmark has either remained flat or declined.
With recent financial market turmoil and the investor response to the Fed's December meeting, mortgage rates may continue their decline in the coming months. Mortgage rates backing off their early to mid 2018 highs have lead to increased mortgage applications as of late. Rising mortgage applications could be a harbinger that the recent housing market slowdown may prove to be temporary.