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30-Year Mortgage Rate Dips Down for Third Straight Week

Mortgage rates keep treading down, with the average 30-year fixed mortgage rate dipping for the third week in a row toward the lowest it has been this year, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®).

The 30-year fixed mortgage rate this week averaged 4.10 percent, while the 15-year fixed mortgage rate averaged 3.36 percent. The 5-year Treasury-indexed hybrid adjustable mortgage rate averaged 3.19 percent.

“The 10-year Treasury yield was relatively unchanged this week, while the 30-year mortgage rate fell four basis points to 4.1 percent,” said Sean Becketti, chief economist at Freddie Mac, in a statement on the survey. “After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low. Next week’s survey rate may be determined by Friday’s employment report and whether or not it can sustain the strength from earlier this year.”

Source: Freddie Mac

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