According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate held steady after last week's big jump in mid-October 2017.
Sean Becketti, chief economist at Freddie Mac said, "Following a strong surge last week, rates held relatively flat this week. The 30-year mortgage rate remained unchanged at 3.94 percent, while the 10-year Treasury yield dipped roughly 4 basis points. The markets' reaction to the upcoming announcement of the next Fed chair may impact the movement of rates in next week's survey."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending November 2, 2017, the same as last week. A year ago at this time, the 30-year FRM averaged 3.54 percent.
15-year FRM this week averaged 3.27 percent with an average 0.5 point, up from last week when it averaged 3.25 percent. A year ago at this time, the 15-year FRM averaged 2.84 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.5 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 5-year ARM averaged 2.87 percent.
According to Transwestern's third-quarter office outlook reports covering the District of Columbia, Suburban Maryland and Northern Virginia, the Washington, D.C., metro area saw mixed results in the office sector for the third quarter.