Mortgage Rates Remain Flat
Freddie Mac released the results of its Primary Mortgage Market Survey. It showed that the 30-year fixed-rate mortgage averaged 2.73%, unchanged from the previous week.
“Mortgage rates remained flat this week and near record lows, signifying an economy that continues to struggle,” said Sam Khater, Freddie Mac’s Chief Economist. “This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position. While many have already refinanced, the evidence suggests that upper income homeowners have taken advantage of the opportunity more so than lower income homeowners who could stand to benefit the most by lowering their monthly mortgage payment.”