ABBA First Mortgage News

Rates on home loans were stable in the last week, though volatility continued from day-to-day.

For the week ending April 9, Freddie Mac announced that 30-year fixed rates remained at 3.33%. A year ago, 30-year fixed rates averaged 4.12%, more than 0.75% higher than today. “While rates on home loans remained flat over the last week, there is room for rates to move down. This year the 10-year Treasury market has declined by over a full percentage point, yet home loan rates have only declined by one-third of a point. As financial markets continue to heal, we expect rates on home loans will drift lower in the second half of 2020,” said Sam Khater, Chief Economist, Freddie Mac.

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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