PGZ - Mortgage rates hit new record low in new year

30-year fixed-rate mortgage rate averages 2.65% for the week ending Jan. 7 vs. 2.67% in the prior year and 3.64% at this time a year ago, according to the Freddie Mac Primary Mortgage Market Survey.The lower rates have made homes more affordable even as home prices rise, Freddie Chief Economist Sam Khater said."However, the forces behind the drop in rates have been shifting over the last few months and rates are poised to rise modestly this year," he added. "The combination of rising mortgage rates and increasing home prices will accelerate the decline in affordability and further squeeze potential homebuyers during the spring home sales season."15-year FRM averages 2.16% vs. 2.17% in the prior week and 3.07% a year earlier.5-year Treasury-indexed hybrid adjustable rate mortgage averages 2.75% vs. 2.71% a week earlier and 3.30% a year ago.U.S. Home Construction ETF (ITB) gains 0.8%; by name: D.R. Horton ([[DHI]] +1.3%), KB Home

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Mortgage rates hit new record low in new year