30-Year Rates Are Hovering Below 4%
Freddie Mac article by Daily Real Estate News | July 28, 2017
Mortgage rates posted another drop this week, offering more relief to home buyers.
Freddie Mac reports the following national averages with mortgage rates for the week ending July 27:
- 30-year fixed-rate mortgages: averaged 3.92 percent, with an average 0.5 point, falling from last week’s 3.96 percent average. Last year at this time, 30-year rates averaged 3.48 percent.
- 15-year fixed-rate mortgages: averaged 3.20 percent, with an average 0.5 point, dropping from last week’s 3.23 percent average. A year ago, 15-year rates averaged 2.78 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 3.18 percent, with an average 0.5 point, down from last week’s 3.21 percent average. A year ago, 5-year ARMs averaged 2.78 percent.
Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 072817