30-Year Fixed Now At Its Lowest Level Since November

Posted by Michael Bates on August 25, 2017 No Comments

Freddie Mac says the 30-year fixed-rate mortgage (FRM) averaged 3.86% with an average 0.5 point for the week ending Aug. 24, 2017, which is the lowest rate since Nov. 10, 2016.

A year ago at this time, the 30-year FRM averaged 3.43%. This week’s average of 3.86% is down from last week’s 3.89%.

The 15-year FRM this week averaged 3.16% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% this week with an average 0.5 point, up from last week when it averaged 3.16%. A year ago at this time, the five-year ARM averaged 2.75%.

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