Mortgage Rates Remain Stable

Average fixed mortgage rates remain largely unchanged ahead of this week’s employment report, according to the most recent Freddie Mac Primary Mortgage Market Survey.

“The 10-year Treasury yield leaped to a two-week high following reports of the European Central Bank retreating from its bond-buying program ahead of its initial March deadline,” says Sean Becketti, Freddie Mac’s chief economist. “In contrast, the 30-year fixed-rate mortgage remained unchanged. Over the past two weeks, mortgage rates have remained fairly flat while Treasury yields have fallen and risen.”

Freddie Mac findings:

• The 30-year fixed-rate mortgage averaged 3.42 percent, with an average 0.5 point for the week ending Oct. 6, unchanged from the previous week. A year ago at this same time, the 30-year fixed-rate mortgage averaged 3.76 percent.

• The 15-year fixed-rate mortgage averaged 2.72 percent, with an average 0.5 point, unchanged from the previous week. A year ago at this same time, the 15-year fixed-rate mortgage averaged 2.99 percent.

• The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.80 percent this week, with an average 0.4 point, down from the previous week when it averaged 2.81 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.88 percent.

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