FHFA Announces Mortgage Rates

The FHFA, Federal Housing Finance Administration, announced average contract mortgage rates for June, with the national average for a 30 year fixed loan at 4.91%.  This number has varied between 4.88% and 5.26% in the last 12 months.  These historically low rates for a year or more can lead your customers and clients to take them for granted.  Just get this chart of mortgage rates back to 1980, and give them a copy when they are talking about waiting for lower rates, or complaining about rates over 5%.