MORTGAGE INTEREST RATE CHANGES IN 2018

Each week the folks at Freddie Mac survey lenders on the rates and points available for their 30-year fixed-rate, 15-year fixed-rate and the 5/1 hybrid amortizing adjustable-rate mortgage, on the products that they are offering.  These lenders are from credit unions, mortgage lenders, commercial banks and thrifts, so it is a pretty good representation.

Loans by these lenders can be divided into two main categories:  government-sponsored loans or conventional loans.  A government-sponsored loan is one that is insured by the FHA or guaranteed by the VA.  A conventional loan is not insured or guaranteed by a government agency.

Freddie Mac and Fannie Mae purchase mortgages from lenders, pool them into securities and then find investors to purchase them.  Here is a snapshot of the interest rates so far in 2018.