Mortgage rates slipped this week after recently rising and holding steady at the highest rate in three months, according to Freddie Mac’s Primary Mortgage Market Survey.
“After holding steady last week, rates dipped slightly this week,” Freddie Mac Chief Economist Sean Becketti explained.
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage dropped to 3.9% for the week ending November 9, 2017. This is down from last week’s 3.94%, but up from 3.57% last year.
The 15-year FRM also decreased, falling from 3.27% last week to 3.24% this week. This is up from 2.88% last year.
The five-year Treasury-indexed hybrid adjustable-rate mortgage decreased just slightly to 3.22%, down from 3.23% last week but up from 2.88% last year.
“The 10-year Treasury yield fell roughly seven basis points, while the 30-year mortgage rate dropped four basis points to 3.9%,” Becketti said.