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After Last Week's Jump, Mortgage Rates Flat-line in Late October

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.
 
Primary-Mortgage-Market-Survey-Nov17-Chart.jpg

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