Everybody’s talkin’ Hawks. . . and lowest rates in 18 months
Jan 19, 2015, 9:34 AM | Updated: Mar 4, 2016, 5:46 am
While the Puget Sound is buzzing with Super Bowl Fever, the topic right behind the Seahawks for people buying, selling and financing a home is that borrowing costs have gotten even cheaper.
The 30-year fixed-rate mortgage averaged 3.66 percent late last week, the lowest weekly average since May 23, 2013, Freddie Mac reports in its weekly mortgage market survey.
What’s more, the 15-year fixed-rate mortgage dropped below 3 percent, also for the first time since May 2013.
“Mortgage rates fell for the third consecutive week as oil prices plummeted and long term treasury yields continued to drop despite a strong employment report,” said Frank Nothaft, Freddie Mac’s chief economist.
The unemployment rate has fallen to 5.6 percent, the lowest since June 2008.
This marked the third consecutive week that mortgage rates lowered as bond yield continued to drop despite a strong employment report, Freddie Mac reported.
