Mortgage Rates React to Volatility
The average 30-year, fixed mortgage rate slipped to 3.45 percent this week, following market volatility, according to the Freddie Mac Primary Mortgage Market Survey® (PMMS®).
Averaging 3.45 percent, with an average 0.7 point
Down from 3.49 percent the prior week and 4.35 percent the prior year
Averaging 2.95 percent, with an average 0.8 point
Down from 2.99 percent the prior week and 3.77 percent the prior year
Averaging 3.20 percent, with an average 0.2 point
Down from 3.25 percent the prior week and 3.84 percent the prior year
"Given the recent volatility of the 10-year Treasury yield, it's not surprising that mortgage rates again have dropped," said Sam Khater, chief economist at Freddie Mac, in a statement. "These low rates combined with high consumer confidence continue to drive home sales upward, a trend that is likely to endure as we enter spring."