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Mortgage Rates Drop to a 10-Month Low

Mortgage Rates Drop to a 10-Month Low

February 12th, 2019 | Mortgage News

Mortgage interest rates fell to their lowest point in 10-months, according to data from Freddie Mac. The average rate on a 30-year fixed-rate mortgage dropped to 4.41% with an average 0.4 point, down from 4.46% the week before and 4.32% one year earlier. The new rate is lowest since the beginning of April 2018. As the Federal Reserve announced plans to pause future rate hikes, signaling concern about potential economic risks, investors fled to the safety of Treasury bonds which in turn pushed mortgage rates lower for Utah homeowners.
 

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