Freddie Mac reports falling mortgage rates

New Primary Mortgage Market Survey data from Freddie Mac shows that mortgage rates continue to trend at a lower rate due to declining Treasury yields.

Freddie Mac said the 30-year fixed-rate mortage averaged at 3.79 percent in the week ending October 22, a drop from one week ago when it averaged 3.82 percent. Before, in 2014, the 30-year fixed-rate mortgage averaged 3.92 percent.

As for 15-year fixed-rate mortgages, these averaged 2.98 percent, down from last week’s 3.03 percent average. 15-year fixed-rate mortgages have declined significantly from the 3.08 percent average one year ago.

Freddie Mac also said the less common 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.89 percent last week, up slightly from the 2.88 percent average one week ago. Last year, 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.91 percent. Finally, the 1-year Treasury-indexed adjustable-rate mortgage averaged 2.62 percent this week, from 2.54 percent one week ago. Last year, the 1-year Treasury-indexed adjustable-rate mortgage average was 2.41 percent.

Sean Becketti, Chief Economist at Freddie Mac, said 30-year mortgage rates fell three basis points this week as a result of remarks by Federal Reserve Governor Daniel Tarullo that Treasury yields had dipped.

“The housing market continues to benefit from low mortgage rates, with housing starts for September beating expectations and the NAHB’s Housing Market index registering a ten year high in October,” Becketti concluded.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at

Recent Posts

Print Advertising Does it Matter for Real Estate Agencies

Advertising is an essential component of a solid marketing strategy, and since marketing is about…

23 hours ago

Miami Real Estate Posts 10th-Highest Total Home Sales Month in History

Miami-Dade County real estate posted its 10th-highest total existing home sales month in history and…

1 day ago

Mortgage applications rise amid strong demand for ARMs

Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted…

1 day ago

How Real Estate Agents can Automate Their Social Media Accounts

According to the┬áNational Association of Realtors, highlights indicate that existing and pending home sales have…

1 day ago

Home affordability crumbles, causing demand to finally pull back

Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable…

2 days ago

How to Make the Most of Local Real Estate Marketing

One of the main reasons why new real estate agents fail is because they are…

2 days ago