The average 30-year, fixed mortgage rate slid this week, tumbling to 4.45 percent, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®). The average 15-year, fixed mortgage rate was 3.89 percent, while the average five-year, Treasury-indexed hybrid adjustable mortgage rate was 3.83 percent.
30-Year Fixed
- Averaging 4.45 percent, with an average 0.5 point
- Down from 4.51 percent the prior week, but up from 3.99 percent the prior year
15-Year Fixed
- Averaging 3.89 percent, with an average 0.3 point
- Down from 3.99 percent the prior week, but up from 3.44 percent the prior year
5-Year Adjustable
- Averaging 3.83 percent, with an average 0.3 point
- Down from 3.98 percent the prior week, but up from 3.46 percent the prior year
“Mortgage rates fell to the lowest level in nine months, and in response, mortgage applications jumped more than 20 percent,” says Sam Khater, chief economist at Freddie Mac. “Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales.”
Source: Freddie Mac
