Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/02/05/mortgage-rates-fall-to-lowest-level-since-2016-this-could-be-the-last-affordable-spring-home-buying-season-for-a-while-realtor-group-warns/meta-wp-cache-83a959be37f529d7601602ad53a685b0.php in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 71 Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/02/05/mortgage-rates-fall-to-lowest-level-since-2016-this-could-be-the-last-affordable-spring-home-buying-season-for-a-while-realtor-group-warns/index.html in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 99 Mortgage rates fall to lowest level since 2016 — this could be the ‘last affordable’ spring home-buying season for a while, Realtor group warns – Forex Brasil

Mortgage rates fall to lowest level since 2016 — this could be the ‘last affordable’ spring home-buying season for a while, Realtor group warns

Mortgage rates have dropped to the lowest levels since before the 2016 presidential election.

The 30-year fixed-rate mortgage averaged 3.45% during the week ending Feb. 6, a decrease of six basis points from the previous week, Freddie Mac FMCC, +0.32%reported Thursday. This was the third consecutive week in which mortgage rates dropped.

The last time the 30-year fixed-rate mortgage was at or below this level was in October 2016, when it averaged 3.42%.

The 15-year fixed-rate mortgage also fell three basis points to 2.97%, according to Freddie Mac. This was the first time since 2016 the average rate for the 15-year fixed home loan fell below 3%. The 5/1 adjustable-rate mortgage, however, increased eight basis points to an average of 3.32%.