The WPJ
Residential Real Estate News
After Last Week's Jump, Mortgage Rates Flat-line in Late October
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.
Real Estate Listings Showcase
This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More