The 30-year fixed-rate mortgage (FRM) averaged 3.78 percent for the week ending Sept. 14, the same as last week, and the 15-year FRM this week averaged 3.08 percent, also the same as last week. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.13 percent this week, down from last week when it averaged 3.15 percent.
Sean Becketti, chief economist at Freddie Mac, forecast a sunnier near-future.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” he said. “If Treasury yields continue to rise, mortgage rates could see an increase in next week's survey.”