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U.S. Mortgage Rates Continue to Rise, Third Consecutive Week

U.S. Mortgage Rates Continue to Rise, Third Consecutive Week

Residential News » Washington D.C. Edition | By WPJ Staff | November 1, 2019 7:45 AM ET



According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. averaged 3.78 percent in late October 2019.

"This week marks the third consecutive week of rate increases, which hasn't happened since April of this year. That said, purchase activity continues to show strength, indicating obvious homebuyer demand," said Sam Khater, Freddie Mac's Chief Economist. "However, the lack of housing supply remains a major barrier to not just the housing market, but the overall economic recovery."

Freddie Mac News Facts

  • 30-year fixed-rate mortgage averaged 3.78 percent with an average 0.5 point for the week ending October 31, 2019, up from last week when it averaged 3.75 percent. A year ago at this time, the 30-year FRM averaged 4.83 percent.
  • 15-year fixed-rate mortgage averaged 3.19 percent with an average 0.6 point, up from last week when it averaged 3.18 percent. A year ago at this time, the 15-year FRM averaged 4.23 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.43 percent with an average 0.4 point, up from last week when it averaged 3.4 percent. A year ago at this time, the 5-year ARM averaged 4.04 percent.

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