Mortgage Rates React to Volatility

David Deem

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®).

30-Year Fixed
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

15-Year Fixed
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

5-Year Adjustable
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."

DRE #0122566


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