Freddie Mac's latest Primary Mortgage Market Survey is showing this week that the average fixed U.S. mortgage rate remained unchanged from the previous week, while still remaining near their all-time record lows.
Sean Becketti, chief economist of Freddie Mac said, "Treasury yields were little changed from the prior week and the 30-year fixed-rate mortgage held steady at 3.43 percent this week. This marks the ninth consecutive week that mortgage rates have been below 3.5 percent. Markets are erring on the side of caution ahead of the second estimate for second-quarter GDP and Fed Chair Janet Yellen's speech on Friday".
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.6 point for the week ending August 25, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.84 percent.
15-year FRM this week averaged 2.74 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.06 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.75 percent this week with an average 0.4 point, up from last week when it averaged 2.74 percent. A year ago, the 5-year ARM averaged 2.90 percent.