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Home / Business / Mortgage rates hit a 12 month low, as economic expansion seems to be increasingly vulnerable

Mortgage rates hit a 12 month low, as economic expansion seems to be increasingly vulnerable



Andi DeFelice

Jenny and Steve, a couple who bought a home using Andi DeFelice, a real estate agent in Savannah, Georgia

Mortgage rates fell to the lowest in a year when inflation was cooled and investors braced for a slowing global economy.

The 30-year fixed-rate loan amounted to 4.37% in February 1

4 of the week, says mortgage provider Freddie Mac on Thursday. It was down from 4.41% last week. The 15-year interest rate on interest-bearing averages was 3.81%, down three basis points. The 5-year Treasury-indexed hybrid adjustable interest rate averaged 3.88%, down from 3.91%.

These rates do not include fees related to obtaining mortgages.

Mortgages track 10-year US Treasury note

TMUBMUSD10Y, -1.56%

. Bonds have become more attractive in recent weeks among global growth issues and concerns about a possible second government closure. That's good news for borrowers: Bond yields fall as prices increase.

The popular 30-year-old has risen for just a week so far this year, and has averaged 4.44% compared to 4.54% for the whole of 2018. [19659004] Read: Solid Fannie-Freddie's earnings are a foundation for the gigante's next action

Last year, there was a rocky for many local housing markets, especially higher prices and late rise in prices did not help. But for Andi DeFelice, a real estate agent in Savannah, Ga., The market conditions have been "stable."

"Six months ago, it was a strong selling market, but there is a little bit of calm, took a bit of a turn, said DeFelice." Inventory is picking up a little. It starts to be, not a buyer's market necessarily, but a bit more balanced. Sellers get reasonable prices and buyers pay reasonable prices. Currently, it's a sweet place. "

Read: Mortgages hit a 4 month low, so what holds back the housing market?

The latest lulls in the mortgage rate have been" phenomenal "for their customers, DeFelice MarketWatch told." It opens doors for buyers who may not have been opened an hour and a half ago. "

Andi DeFelice

Angela & Tom bought a beach cottage using Andi DeFelice and a better entry point in the housing market.

DeFelice works exclusively With buyers and having been encouraged by a recent rush of thousands of clients coming out, even as owners are increasingly selling their homes to companies as an investment, rather than listing on the open market. "The younger generation is aware that they need someone working on their side of the transaction, "she said.

See also: Zillows Zestimate got an upgrade – and this trio got $ 1 million for the new algorithm


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