According to Freddie Mac's latest Primary Mortgage Market Survey, showing the average 30-year fixed mortgage rate unchanged from the previous week in late September 2017.
Sean Becketti, chief economist of Freddie Mac says, "Rates held relatively flat this week. The 10-year Treasury yield fell just 1 basis point, while the 30-year mortgage rate remained unchanged at 3.83 percent."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.83 percent with an average 0.6 point for the week ending September 28, 2017, the same as last week. A year ago at this time, the 30-year FRM averaged 3.42 percent.
15-year FRM this week averaged 3.13 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.72 percent
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.20 percent this week with an average 0.5 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 5-year ARM averaged 2.81 percent.
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2017, U.S. mortgage applications increased 9.9 percent from one week earlier. This week's results included an adjustment for the Labor Day holiday.
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released this week, rising U.S. home prices offset a quarter-point drop in mortgage interest rates to move housing affordability slightly lower in the second quarter of 2017.