The average 30-year, fixed mortgage rate reversed trend, increasing to 3.56 percent this week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).
 
"Pipeline purchase demand continues to improve heading into the late fall with purchase mortgage applications up 9 percent from a year ago," says Sam Khater, chief economist at Freddie Mac. "The improved demand reflects the still healthy underlying consumer economic fundamentals such as a low unemployment rate, solid wage growth and low mortgage rates. While there has been a material weakness in manufacturing and consistent trade uncertainty, so far, the American consumer has proved to be resilient with solid home purchase demand."
 
30-Year Fixed

• Averaging 3.56 percent, with an average 0.5 point
• Up from 3.49 percent the prior week, but down from 4.6 percent the prior year 

15-Year Fixed

• Averaging 3.09 percent, with an average 0.5 point
• Up from 3 percent the prior week, but down from 4.06 percent the prior year 

5-Year Adjustable

• Averaging 3.36 percent, with an average 0.3 point
• Up from 3.3 percent the prior week, but down from 3.93 percent the prior year 

Source: Freddie Mac

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