For the third consecutive week, the 30-year fixed-rate mortgage averaged a new year-to-date low.
“The 10-year Treasury yield fell 9 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate followed, dropping 4 basis points to a year-to-date low of 3.78 percent.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 7:
- 30-year fixed-rate mortgages: averaged 3.78 percent, with an average 0.5 point, falling from last week’s previous yearly low of 3.82 percent. Last year at this time, 30-year rates averaged 3.44 percent.
- 15-year fixed-rate mortgages: averaged 3.08 percent, with an average 0.5 point, falling from last week’s 3.12 percent average. A year ago, 15-year rates averaged 2.76 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.15 percent, with an average 0.4 point, rising from last week’s 3.14 percent average. A year ago, 5-year ARMs averaged 2.81 percent.