According to Freddie Mac's latest Primary Mortgage Market Survey, the average 30-year fixed mortgage rate in the U.S. ticked down this week.
Sean Becketti, chief economist of Freddie Mac said, "Rates came down slightly this week, ending a brief, two-week streak of increases. The 10-year Treasury yield dipped 6 basis points, while the 30-year fixed mortgage rate fell 3 basis points to 3.88 percent."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.88 percent with an average 0.5 point for the week ending October 19, 2017, down from last week when it averaged 3.91 percent. A year ago at this time, the 30-year FRM averaged 3.52 percent.
15-year FRM this week averaged 3.19 percent with an average 0.5 point, down from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 2.79 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.4 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 5-year ARM averaged 2.85 percent.
According to Freddie Mac's latest Primary Mortgage Market Survey for the first week of January 2018, the average mortgage rate dipped in the U.S. Treasury yields fell from a week ago, helping to drive mortgage rates down to start the year.