Mortgage Rates Down Again

Aug 31, 2017

The third quarter recorded the smallest quarter-to-quarter decline in negative equity since 2010, according to new data from CoreLogic

Average mortgage rates continued to drop, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending Aug. 31.

The 30-year fixed-rate mortgage (FRM) averaged 3.82 percent, down from last week when it averaged 3.86 percent. The 15-year FRM this week averaged 3.12 percent, down from last week when it averaged 3.16 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week, down from last week when it averaged 3.17 percent.

Sean Becketti, chief economist at Freddie Mac, was optimistic that rising rates were in the near future. “Recent releases of positive economic data could halt the downward trend of mortgage rates,” he said.

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Phil Hall

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Aug 31, 2017

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