The Federal Home Loan Mortgage Corp. (Freddie Mac) announced earlier this week that, according to its Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage averaged 2.67 percent, which is the lowest rate in the surveyâs history which dates back to 1971.
âThe housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,â said Sam Khater, Freddie Macâs Chief Economist. âMortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.â
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