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Freddie Mac: Mortgage rates approaching record lows

Jul 11, 2016

Last week's Freddie Mac Primary Mortgage Market Survey showed that average fixed mortgage rates dropped to new 2016 lows in the wake of the Brexit vote. At 3.41 percent, the 30-year fixed-rate mortgage is just 10 basis points from its November 2012 all-time record low of 3.31 percent.

According to the July 7 report:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.41 percent with an average 0.5 point, down from the previous week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 4.04 percent. 
  • The 15-year FRM averaged 2.74 percent with an average 0.4 point, down from the previous week's average of 2.78 percent. A year ago at this time, the 15-year FRM averaged 3.20 percent. 

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