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The 30-year fixed mortgage rate dropped to its lowest mark since November 10, 2016, according to the Primary Mortgage Market Survey® (PMMS®), released today by Freddie Mac.

30-year fixed-rate mortgage (FRM) averaged 3.86 percent with an average 0.5 point for the week ending August 24, 2017, down from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.

15-year FRM this week averaged 3.16 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 5-year ARM averaged 2.75 percent.

For more information visit FreddieMac.com.

For the latest real estate news and trends, bookmark RISMedia.com.

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