Mortgage rates changed very little this past week, but remain at record low levels, according to Fannie Mae’s Primary Mortgage Market Survey.
The 30-year, fixed-rate mortgage averaged 3.41% for the week ending Oct. 25, up slightly from 3.37% a week earlier and from 4.10% last year.
In addition, the 15-year, FRM averaged 2.72%, which is up from 2.66% last week and 3.38% a year ago.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage remained unchanged at 2.75%, which remains well under the 3.08% rate recorded last year.
The 1-year Treasury-indexed ARM also hit 2.59%, down from 2.60% last week and 2.90% last year.
“Mortgage rates remained relatively unchanged this week and should continue to support the housing market and mortgage refinance,” said Frank Nothaft. “Existing home sales in September eased slightly to 4.75 million but was the second strongest annualized pace since May 2010.”
