Freddie Mac today released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage averaged 3.75%, the highest it’s been in 12 weeks.
“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are following suit but are at near historic lows, while mortgage applications to purchase a home remain higher year over year.”
News Facts
- 30-year fixed-rate mortgage averaged 3.75% with an average 0.5 point for the week ending October 24, 2019, up from last week when it averaged 3.69%. A year ago at this time, the 30-year FRM averaged 4.86%.
- 15-year fixed-rate mortgage averaged 3.18% with an average 0.5 point, up from last week when it averaged 3.15%. A year ago at this time, the 15-year FRM averaged 4.29%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.4% with an average 0.3 point, up from last week when it averaged 3.15%. A year ago at this time, the 5-year ARM averaged 4.14%.
