The average 30-year fixed mortgage rate slumped seven percentage points this week to 4.23 percent, the steepest drop in more than two months, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®).
The 15-year fixed mortgage rate made a similarly sharp decline at an average 3.44 percent; the average 5-year Treasury-indexed hybrid adjustable mortgage rate, at the same time, slipped to 3.24 percent.
Source: Freddie Mac
For the latest real estate news and trends, bookmark RISMedia.com.
The post Mortgage Rates Make Steepest Drop in Two-Plus Months appeared first on RISMedia.