FreddieMac.com
Skip to content
October 16, 2014

Mortgage Rates Hit New 2014 Lows

Research and Analysis

Remember last year when the talk of tapering sent mortgage rates sharply higher from 3% to mid-4%? All this happened well before even a smidgeon of tapering was actually started by the Fed.

Well that has been reversed this week. Average fixed mortgage rates hit new lows for the year as 10-year bond yields briefly dipped below 2 percent. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below 4 percent in the PMMS until this week.

Mortgage rates were down sharply following the decline in 10-year Treasury yields for the second straight week amidst continued investor skepticism regarding the precarious economic situation in Europe.

So in the course of a year, mortgage rates have gone from Dirt Cheap, to Cheap and now back down to dirt cheap. If you're in the market to refi or buy, enjoy.

Want to receive our weekly blog round up? Subscribe at the right - and each Friday we'll send you our latest blog posts.

  • Feedback

    Have a comment or question about this post? Email us to let us know what's on your mind.

    Maximum of 250 characters.