Mortgage rates have fallen once again this week, with the 30-year fixed-rate mortgage (FRM) averaging 3.79 percent with an average 0.6 point, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®).
The 15-year FRM is averaging 3.07 percent with an average 0.5 point. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) is averaging 2.90 percent, also with an average 0.5 point.
“The yield on the 10-year Treasury stabilized around 2 percent this week, and the 30-year mortgage rate dipped 2 basis points to 3.79 percent,” says Sean Becketti, chief economist of Freddie Mac. “The recent market turmoil has given the Fed pause; as was universally expected, the Fed stood pat this week but kept its options open for a rate increase in March.”
Source: Freddie Mac
Published with permission from RISMedia.