What’s New in South Florida and the Treasure Coast Markets
Luxury Homes and Lifestyles – December 2019
- What’s New in South Florida and the Treasure Coast Markets
- Luxury Homes and Lifestyles – December 2019
Stay up-to-date with this monthly post on general area news and website updates with links to relevant articles. I cover from Boca Raton to Port St Lucie, Vero Beach and the Treasure Coast and this running blog post will be updated throughout the month with brief summaries, breaking news and links to new pages or articles.
This post will be updated throughout the month, so come back and check for more info and other months’ posts in the What’s New in South Florida Waterfront Homes and Condos Blog category.
New articles and December Highlights:
December Holidays and Events
Freddie Mac PMMS Weekly Interest Rate Surveys in December
MCLEAN, Va., Dec. 26, 2019 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.74 percent.
“The 30-year fixed-rate mortgage rate saw little change again this week up from 3.73% the last couple weeks. The average rate during all of 2019 was 3.9% , the fourth lowest annual average level since 1971 when Freddie Mac started its weekly survey,” said Sam Khater, Freddie Mac’s Chief Economist.
Khater continued, “Heading into 2020, low mortgage rates and the improving economy will be the major drivers of the housing market with steady increases in home sales, construction and home prices. While the outlook for the housing market is bright, worsening housing affordability is no longer a coastal phenomenon and is spreading to many interior markets and it is a threat to the continued recovery in housing and the economy.”
Interest rates over the past few months have fluctuated in the range between 3.57 and 3.78% for the 30 year fixed rate mortgage.
News Facts – Average Rates and Points
- 30 year fixed rate was 3.74% with 0.7 point, 1 year ago the 30-year FRM was 4.55%
- 5 year fixed rate was 3.19% with 0.7 point, 1 year ago the 15-year FRM was 4.01%.
- 5 year Treasury Indexed hybrid adjustable-rate Mortgage (ARM) was 3.45% with 0.3 point, 1 year ago the 5-year ARM was 4.0%.
30 Year FRM Rates over the Month of December weekly averages:
- December 5th 30-year rate was 3.68%, the same as the prior week at 3.68%.
- December 12th 30-year rate was 3.73%, up slightly from 3.68% the prior week
- December 19th 30-year rate was 3.73%, the same as the prior week of 3.73%.
- December 26th 30-year rate was 3,74%, up slightly from the prior week of 3.73%
Visit our new Lineup of exciting events coming to Boca Raton in 2020