Tuesday
November 21, 2017

Borrowing Costs Ease Slightly This Week

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Borrowing Costs Ease Slightly This Week

Fixed-rate mortgages dropped slightly from the previous week, holding near yearly lows, Freddie Mac reports in its weekly mortgage report.

Mortgage Trends:

Freddie Mac released the following national averages with mortgage rates for the week ending Sept. 25:

  • 30-year fixed-rate mortgages: averaged 4.20 percent, with an average 0.5 point, dropping from last week’s 4.23 percent average. Last year at this time, 30-year rates averaged 4.32 percent.
  • 15-year fixed-rate mortgages: averaged 3.36 percent, with an average 0.5 point, dropping from last week’s 3.37 percent average. A year ago, 15-year rates averaged 3.37 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.08 percent, with an average 0.4 point, rising from last week’s 3.06 percent average. Last year at this time, 5-year ARMs averaged 3.07 percent.
  • 1-year ARMs: averaged 2.43 percent, with an average 0.4 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.63 percent.

Source: Freddie Mac