Mortgage Rates Uptick Slightly

Dec 21, 2017

There was mildly good news in Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) for week ending Dec. 21.

The 30-year fixed-rate mortgage (FRM) averaged 3.94 percent this week, up from last week when it averaged 3.93 percent. The 15-year FRM this week averaged 3.38 percent, up from last week when it averaged 3.36 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.39 percent this week, up from last week when it averaged 3.36 percent.

Separately, the Federal Housing Finance Agency (FHFA) reported that home prices rose in October by 0.5 percent from September. On a year-over-year basis, home prices in October were up by 6.6 percent. For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from a 0.4 percent drop in the West North Central division to 2.8 percent uptick in the East South Central division; the 12-month changes were all positive, with the Pacific division recording the greatest bump-up at 8.7 percent.

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Phil Hall

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Dec 21, 2017

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