According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate slightly dipped across the board.
Sean Becketti, chief economist of Freddie Mac said, "After holding steady last week, rates dipped slightly this week. The 10-year Treasury yield fell roughly 7 basis points, while the 30-year mortgage rate dropped 4 basis points to 3.90 percent."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.4 point for the week ending November 9, 2017, down from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
15-year FRM this week averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.88 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 5-year ARM averaged 2.88 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate hit their highest marks since July 2017. The 10-year Treasury yield surged this week, jumping 12 basis points.
According to the National Association of Home Builders/Wells Fargo Housing Market Index, U.S. builder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October 2017. This was the highest reading since May 2017.
According to Zillow, nearly one in 20 residential ZIP codes in the U.S. meets the definition of a $1 Million Neighborhood, meaning at least 10 percent of the homes there are worth seven figures or more.