Mortgage rates slipped from last week's spike and the 30-year fixed-rate mortgage eased back to its summertime range below 3.5%, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.47% for the week ending Oct. 27,
"Mortgage rates continue to be relatively stable and at near-record lows. At the same time, the 10-year Treasury yield ended the week relatively flat — up about 2 basis points," said Sean Becketti, chief economist at Freddie Mac.
The 15-year fixed-rate mortgage averaged 2.78%, down slightly from last week when it averaged 2.79%. A year ago at this time, the 15-year averaged 2.98%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.84%, down slightly from last week when it averaged 2.85%, while a year ago it averaged 2.89%.
