Seventh Consecutive Week of Declining Interest Rates

Freddie Mac’s Primary Mortgage Market Survey this week reflected for the seventh week in a row that some average mortgage interest rates continue to decline. As of January 19th, the average rate for a 30-year fixed rate mortgage was down to 3.88% while 1-year ARM rates sank to 2.74%. On the other hand, 15-year fixed rate mortgage rates experienced a tiny increase of 0.01%, causing the average rate to come in at 3.17%. Finally, 5/1-year ARM rates stayed flat at 2.82%.

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