Mortgage Rates Relax, Back Down to 3.69 Percent

David Deem

The average 30-year, fixed mortgage rate relaxed this week, back down to 3.69 percent, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).

"After a year-long slide, mortgage rates hit a cycle low in September 2019 and have risen in six out of the last nine weeks due to modestly better economic data and trade related optimism," Sam Khater, chief economist at Freddie Mac, says. "The improvement in sentiment has been one of the main drivers behind the surge in equity prices and will provide a halo effect to consumer spending heading into the important holiday shopping season."

30-Year Fixed
Averaging 3.69 percent, with an average 0.5 point
Down from 3.78 percent the prior week and 4.94 percent the prior year

15-Year Fixed
Averaging 3.13 percent, with an average 0.4 point,
Down from 3.19 percent the prior week and 4.33 percent the prior year

5-Year Adjustable
Averaging 3.39 percent, with an average 0.3 point
Down from 3.43 percent the prior week and 4.14 percent the prior year

Source: Freddie Mac



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