Mortgage rates moved lower for a third straight week during the week ended Jan. 19, with the average rate for a 30-year, fixed-rate mortgage (FRM) falling to 4.09% compared with 4.12% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the 30-year FRM averaged 3.81%.
The average rate for a 15-year FRM was 3.34%, down from 3.37% the previous week. A year ago at this time, the 15-year FRM averaged 3.10%.
The average rate for a five-year, Treasury-indexed, hybrid adjustable-rate mortgage (ARM) was 3.21%, down from 3.23%. A year ago, the five-year ARM averaged 2.91%.
“After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report,” says Sean Becketti, chief economist for Freddie Mac, in a release. “In contrast, the 30-year mortgage rate fell three basis points to 4.09 percent – the third straight week of declines.”
