Mortgage rates remained fairly stagnant despite ongoing global growth concerns putting downward pressure on Treasury yields, the latest Freddie Mac Primary Mortgage Market Survey said.

“This marks the tenth consecutive week of a sub-4-percent mortgage rate,” said Sean Becketti, chief economist with Freddie Mac.

Click to enlarge

Rates

(Source: Freddie Mac)

The 30-year fixed-rate mortgage averaged 3.85% for the week ending Oct. 1, down from last week when it averaged 3.86%. A year ago at this time, the 30-year FRM averaged 4.19%. 

Similarly, the 15-year FRM this week averaged 3.07%, falling from 3.08% last week. A year ago at this time, the 15-year FRM averaged 3.36%. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91% this week, unchanged from last week. However, it is down from 3.06% a year ago.

The 1-year Treasury-indexed ARM averaged 2.53% this week, unchanged from last week. At this time last year, the 1-year ARM averaged 2.42%.

“In contrast to the volatility in equity markets, the 10-year Treasury rate—a key driver of mortgage rates—varied just a little more than 10 basis points over the last week. As a result, the 30-year mortgage rate remained virtually unchanged, dropping 1 basis point to 3.85%,” said Becketti.

Most Popular Articles

Fannie Mae, Freddie Mac watchdog prepping for "massive IPO"

The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering that would dwarf any IPO in history, Fox says.

Dec 09, 2019 By

Latest Articles

Zillow expects the housing market's good times to keep rolling in 2020

The single-family housing market has been busy and bustling in 2019, thanks to lower than expected interest rates throughout much of the year. Zillow expects more of the same in 2020.

Dec 11, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please