Mortgage rates steadied this week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed mortgage rate is 4.06 percent; the average 15-year, fixed mortgage rate is 3.51 percent; and the average five-year, Treasury-indexed hybrid adjustable mortgage rate is 3.68 percent.
 
"Mortgage rates fell for the fourth consecutive week [this week] and continued the medium-term trend of lower rates since late 2018," says Sam Khater, chief economist at Freddie Mac. "The drop in mortgage rates is causing purchase demand to rise and the mix of demand is skewing to the higher end as more affluent consumers are typically more responsive to declines in rates."
 
30-Year Fixed

• Averaging 4.06 percent, with an average 0.5 point
• Down from 4.07 percent the prior week and 4.66 percent the prior year 

15-Year Fixed

• Averaging 3.51 percent, with an average 0.4 point
• Down from 3.53 percent the prior week and 4.15 percent the prior year 

5-Year Adjustable

• Averaging 3.68 percent, with an average 0.4 point
• Up from 3.66 percent the prior week, but down from 3.87 percent the prior year 

Source: Freddie Mac

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