Interest rates for 30-year fix mortgages were 3.74% this week, the same as last week’s rates but far below 4.55% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. The average rate for 2019 was 3.9%, the fourth-lowest since 1971.
According to Sam Khater, chief economists at Freddie Mac, “Heading into 2020, low mortgage rates and the improved economy will be major drivers of the housing market with steady increases in home sales, construction, and home prices.”