Freddie Mac: Average 30-yr mortgage rate at 4.0%

According to a news release from Freddie Mac, the average 30-year fixed-rate mortgage dropped to 4.0%, down from 4.1% last week — a decline the GSE called “sharp.”

This is the second lowest reading Freddie says it has seen; the record was 3.94% on October 6.

More notes from the release:

  • Last year at this time, the 30-year FRM averaged 4.24%.
  • The 15-year FRM averaged 3.31% this week, down from 3.38% last week.
  • “5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week, with an average 0.6 point, down from last week when it averaged 3.08 percent. A year ago, the 5-year ARM averaged 3.39 percent.”
  • “1-year Treasury-indexed ARM averaged 2.88 percent this week with an average 0.6 point, down from last week when it averaged 2.90 percent. At this time last year, the 1-year ARM averaged 3.26 percent. “

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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One Response to Freddie Mac: Average 30-yr mortgage rate at 4.0%

  1. How much longer can these rates stay this low? Every time I think we are bound for an increase rates seem to drop even further! I hope the trend continues as It def shows with inventory levels dropping

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