The latest average weekly 30-year mortgage rate came in unchanged at 4.5% in Freddie Mac's latest survey but market activity as of Thursday morning was putting downward pressure on it.
The Dow at press time had been down by as much as 200 points or so and the long-term rate-indicative 10-year Treasury yield had fallen to near 2.9%.
The 30-year mortgage rate tracked by Freddie Mac has been stabilizing recently but prior to that it had been slowly trending downward, hitting year-lows.
As far as other rates during the week ending June 23, the 15-year was up slightly at 3.69% as compared to the previous week’s 3.67%, the average rate for a five-year Treasury hybrid adjustable-rate mortgage was down a bit at 3.25% as compared to 3.27%, and the one-year Treasury ARM rate had inched up to 2.99% from 2.97%.
Average points remained highest for long-term rate product at 0.8 of a point for 30-year fixed-rate mortgages, 0.7 of a point for 15-year FRMs, 0.6 of a point for five-year hybrids and 0.5 of a point for one-year Treasury ARMs.
A year ago the 30-year rate was 4.69%, the 15-year rate was 4.13%, the five-year hybrid Treasury rate was 3.84% and the one-year Treasury ARM rate was 3.77%.
