October Real Estate Mortgage Roundup
Freddie Mac’s results of its Primary Mortgage Market Survey® shows that “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. Mortgage rates are following suit but are at near historic lows, while mortgage applications to purchase a home remain higher year over year.”
- 30-year fixed-rate mortgage (FRM) averaged 3.75 percent with an average 0.5 points for the week ending October 24, 2019, up from last month when it averaged 3.64 percent. A year ago, at this time, the 30-year FRM averaged 4.86 percent.
- 15-year FRM this week averaged 3.18 percent with an average 0.5 points, up from last month when it also averaged 3.16 percent. A year ago, at this time, the 15-year FRM averaged 4.29 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.4 percent this week with an average 0.3 points, up from last month when it averaged 3.38 percent. A year ago, at this time, the 5-year ARM averaged 4.14 percent.