Mortgage Rates Take a Slight Tumble – NMP
Industry News

Mortgage Rates Take a Slight Tumble

Oct 19, 2017
The U.S. Department of Housing & Urban Development (HUD) has announced joint policy actions designed to reduce its risk profile from cash-out refinance lending

Mortgage rates were mostly down this week, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).
 
The 30-year fixed-rate mortgage (FRM) averaged 3.88 percent for the week ending Oct. 19, down from last week when it averaged 3.91 percent. The 15-year FRM this week averaged 3.19 percent, down from last week when it averaged 3.21 percent. However, the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week, up from last week when it averaged 3.16 percent.
 
Separately, Bankrate.com issued its own mortgage rate data relating to refinancing. According to the company, the average 30-year fixed-refinance rate is 3.80 percent, unchanged since the same time last week, while the average for a 15-year fixed-refinance rate is 3.11 percent, up four basis points over the last week. The average rate for a 10-year fixed-refinance loan is 3.01 percent, unchanged from a week ago.
Mortgage rates were mostly down this week, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).
 
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Phil Hall
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Oct 19, 2017
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