The average rate for a conforming 30-year fixed-rate mortgage has ticked down to 4.10 percent, the lowest rate since October of 2013 when it last dipped to 4.10 percent for a week.
Averaging around 6.7 percent over the past twenty years, the 30-year rate hit a three-year high of 4.58 percent a year ago and an all-time low of 3.31 percent in November of 2012.
Having forecast the average rate for a 30-year fixed mortgage would begin rising in the second half of 2014 and end the year at “around 4.6 percent” in May, Freddie Mac lowered their forecast last month and now expects the average 30-year fixed mortgage rate to end the year at “around 4.4 percent.”