The average rate of a 30-year reference mortgage, which had reached its highest level in 7 years, was 4.94% last November, but has since declined by 59 basis points, remained unchanged last week and has remained at 4.35%, or 8 basis points. from the latest Freddie Mac data on the mortgage market.
At the same time, the average rate of a fixed-rate 15-year mortgage, which has dropped 52 basis points since mid-November, has declined from a base point to 3.77 %, 13 basis points lower than the same period last year. , while the average rate for a 5-year adjustable was 3.84%, 22 basis points above its mark at the same period last year and 7 basis points above the 15 years old.
And as the Fed officially announced a more "patient" approach to any future rate hike, with signs of a slowing global economy, the likelihood of a further rise from here the end of the year is currently around 6%, possibility of a relaxation just over 9%, according to a futures analysis.