Freddie Mac’s latest survey shows the downward pressure from the Federal Reserve’s plan to maintain Treasury and mortgage bond buying translated into an 18 basis point average drop in the 30-year home loan rate from
At 4.32%, the weekly survey average for the 30-year rate is the lowest it has been since the week ending July 25, according to Freddie.
During the week ending Sept. 26, the average rate for the 15-year product was down 17 basis points at 3.37%, the average rate for a five-year Treasury-indexed hybrid was down four basis points at 3.07%, and the average rate for a one-year Treasury-indexed adjustable-rate mortgage was down two basis points at 2.63%.
Average points in the most recent week were 0.7 of a point for 30- and 15-year product, 0.5 of a point for five-year Treasury hybrid loans and 0.4 of a point for one-year Treasury ARMs.
All rates are higher than a year ago when the 30-year was 3.4%, the 14-year was 2.73%, the five-year Treasury hybrid was 2.71% and the one-year Treasury ARM was 2.6%.
