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Freddie Mac’s 30-year Average Mortgage Rate At 3.45% (How Low Can It Go?)

How low will mortgage rates go?

(Black Knight) – This morning, the Freddie Mac 30-year average came in at 3.45%, the lowest level in almost 3.5 years and just 14 BPS above all-time lows

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This helped push the number of high-quality refinance candidates to approximately 11.3M, for an aggregate potential monthly savings of $3B – both the highest on record outside of a single week last September when rates also fell below 3.5% for a brief period.

Of that group, some 1.1M homeowners could save $500 per month or more through a refi into a new 30-year fixed loan.

Refinance Candidates


Avg. Savings Per Borrower


Aggregate Monthly P&I Savings


Of course, Freddie’s 30-year mortgage survey rate tracks the 10-year Treasury yield very closely.


How closely? The spread is 1.807%, only slightly above the long-run average since 1971.


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