After declining for most of the year, this week’s mortgage report from Freddie Mac found that mortgage rates remained mostly unchanged this week.

“While rates have moderated, we’re still at nearly three-year lows, which is good news for buyers looking to purchase a home before school starts,” says Sam Khater, Freddie Mac’s chief economist.

“The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodative tone from the Federal Reserve to respond to the rising downside economic risk from trade tensions and soft global economic data,” Khater says. “On the housing front, the latest weekly purchase application data suggests homebuyer demand continues to rise, which is consistent with the slowly improving real estate data from the last two months.”

Rates for the week of July 11

  • 30-year fixed-rate mortgages (FRM) averaged 3.75% with an average 0.5 point for the week – unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.53%.
  • 15-year FRM averaged 3.22% with an average 0.5 point, up from last week when it averaged 3.18%. A year ago at this time, the 15-year FRM averaged 4.02%.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgages (ARM) averaged 3.46% with an average 0.4 point, up from last week when it averaged 3.45%. A year ago, the 5-year ARM averaged 3.86%.

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