Mortgage Rates Drop
For that 3rd straight week, long-term mortgage rates inched down, according to Freddie Mac’s weekly mortgage survey.
The 30-year fixed rate mortgage averaged 4.87 for that week, down from final week’s 4.95 %. The rate was 4.97 % at this time final yr.
The 15-year fixed mortgage rate also dipped for that week, averaging 4.15 %, down from last week’s 4.22 %.
The 5-year adjustable rate mortgage averaged 3.72 %, which can be a drop from final week’s 3.8 % typical.
The 1-year adjustable rate mortgage averaged 3.23 %, down from last week when it averaged 3.4 %. At this time final year, the 1-year ARM averaged 4.27 %.
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