After increasing the previous week, mortgage rates held more or less flat for the week ended Sept. 28, Freddie Mac’s Primary Mortgage Market Survey reveals.
The report shows the average rate for a 30-year fixed mortgage rate mortgage (FRM) unchanged from the previous week at about 3.83%.
A year ago at this time, the 30-year FRM averaged 3.42%.
The average rate for a 15-year FRM was 3.13%, also basically flat compared with the previous week. A year ago at this time, the 15-year FRM averaged 2.72%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.20%, up from 3.17%. A year ago at this time, the five-year ARM averaged 2.81%.
“Rates held relatively flat this week,” says Sean Becketti, chief economist for Freddie Mac.
“The 10-year Treasury yield fell just 1 basis point, while the 30-year mortgage rate remained unchanged at 3.83 percent.”