Fixed mortgage rates have receded from last week’s tread above 3.5 percent, with the 30-year fixed-rate mortgage averaging 3.47 percent, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®).
“Mortgage rates continue to be relatively stable and at near-record lows,” says Sean Becketti, Freddie Mac chief economist. “The 30-year fixed-rate mortgage fell five basis points week-over-week to 3.47 percent, erasing last week’s increase. At the same time, the 10-year Treasury yield ended the week relatively flat—up about two basis points.”
The15-year fixed-rate mortgage, according to the survey, averages 2.78 percent with an average 0.5 point, also down from last week’s 2.79 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage, in addition, averages 2.84 percent with an average 0.4 point, down from last week’s 2.85 percent.
For more information, please visit www.freddiemac.com.