MCLEAN, Va. – Nov. 9. 2017 – Freddie Mac's weekly mortgage survey found that the average 30-year fixed-rate mortgage (FRM) declined slightly this week to 3.90 percent with an average 0.4 point – a drop from last week when it averaged 3.94 percent.
A year ago, the 30-year FRM averaged 3.57 percent.
"After holding steady last week, rates dipped slightly this week," says Sean Becketti, chief economist with Freddie Mac. "The 10-year Treasury yield fell roughly 7 basis points, while the 30-year mortgage rate dropped 4 basis points to 3.90 percent."
All average mortgage rates declined this week:
- The 15-year FRM averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago, the 15-year FRM averaged 2.88 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.88 percent.
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