At 4.45 percent, the average 30-year, fixed mortgage rate stabilized this week, according to the latest Freddie Mac Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate was 3.88 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate was 3.87 percent.
30-Year Fixed
- Averaging 4.45 percent, with an average 0.4 point
- Unchanged from the prior week, but up from 4.04 percent the prior year
15-Year Fixed
- Averaging 3.88 percent, with an average 0.4 point
- Down from 3.89 percent the prior week, but up from 3.49 percent the prior year
5-Year Adjustable
- Averaging 3.87 percent, with an average 0.3 point
- Up from 3.83 percent the prior week, and up from 3.46 percent the prior year
“Weaker manufacturing data and a more dovish tone from the Federal Reserve left mortgage rates unchanged relative to last week,” says Sam Khater, chief economist at Freddie Mac. “However, interest rate-sensitive sectors of the economy—such as consumer mortgage demand and home builder construction sentiment—are on the mend, which indicates that lower interest rates are beginning to have a positive impact on some segments of the economy.”
Source: Freddie Mac
