According to Freddie Mac, fixed mortgage rates fell this week. The 30-year fixed rate mortgage averaged approximately 4.42%, down .02% from last week. The 15-year fixed rate mortgage also dropped, falling from 3.47% last week to 3.34% this week. Additionally, the total mortgage debt for single-family housing jumped for the first time in nearly six years. Freddie Mac chief economist Frank Nothaft said, “This a positive sign, as it reflects that the pickup in new purchase money originations has offset loan pay-downs.” More here
