Morning Minute: 30-year mortgage rates lower than a year ago

For the first time in a year, 30-year, fixed mortgage rates fell this week below where they were a year ago, Inman reports in “Rates on 30-year mortgages post first annual decline this year.”

The 30-year rate averaged 4.14 percent compared to 4.46 percent last year, according to Freddie Mac’s latest data. The 15-year rate was also lower than a year ago at 3.22 percent compared to 3.50 percent a year ago.

Freddie Mac Vice President and Chief Economist Frank Nothaft said rates moved lower following the release of the first quarter GDP estimate, which had a steeper than expected decline.

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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