Average weekly rates for 30- and 15-year fixed-rate mortgages are more than 10 basis points lower in Freddie Mac’s survey.
The 15 basis point drop in the 30-year rate to 4.13% and the 11 basis point decline in the 15-year rate to 3.33% returns fixed rates to their early summer lows.
Fixed rates fell in the wake of the partial government shutdown due to market belief that the Federal Reserve will leave its bond purchase program unchanged this year, Frank Nothaft, vice president and chief economist, Freddie Mac, says in his weekly rate report.
Average short-term rates also are lower compared to
The average rate for a five-year Treasury-indexed hybrid loan is down seven basis points at 3% and the average rate for a one-year Treasury-indexed adjustable-rate mortgage is three basis points lower at 2.6%.
All rates remain higher than a year ago when the 30-year rate was 3.41%, the 15-year rate was 2.72%, the average five-year Treasury hybrid rate was 2.75% and the average one-year Treasury ARM rate was 2.59%.
