Mortgage Rates Continue to Offer Sweet Treat to Buyers

The 30-year fixed-rate mortgage averaged 3.47% this week, remaining an alluring incentive for buyers who want to lock in some of the lowest borrowing rates in years.
“With mortgage rates hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years,” says Sam Khater, Freddie Mac’s chief economist. “This surge, coupled with strong purchase activity, means that total mortgage demand remains robust, reflective of a solid economic backdrop, and a very low mortgage rate environment.”
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