The 30-year fixed mortgage rate fell to its lowest point in six weeks, according to the Freddie Mac
Primary Mortgage Market Survey for the week ending Aug. 10.
The 30-year fixed-rate mortgage (FRM) averaged 3.90 percent, down from last week when it averaged 3.93 percent. The 15-year FRM this week averaged 3.18 percent, unchanged from last week. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.14 percent, slightly lower from last week when it averaged 3.15 percent.
“After holding relatively flat last week, the 10-year Treasury yield fell four basis points this week,” said Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved in tandem with Treasury yields, dropping three basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.”