Rates Hit Record Lows – Again

6 Jul

According to Freddie Mac’s weekly survey that came out July 5, rates have dropped again.  A 30-year fixed is at 3.62%, down from 3.66% last week. This time last year it stood at 4.60%.

15-year fixed rates are at 2.89%, compared with last week’s 2.94% and last year’s 3.75%.

Spending is trending up as a result.  Latest figures are from May, showing construction spending up 0.9% month-over-month and a jump of 7.0% from last year.  Private residential spending increased 3.0% month-over-month.

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