Average fixed-mortgage rates in the U.S. fell in the latest
week, according to mortgage-finance company Freddie Mac (FMCC).
Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that
the drop in fixed mortgage rates followed a decline in 10-year
Treasury yields.
For the week ended Thursday, the 30-year fixed-rate mortgage
rate averaged 3.69%, compared with 3.78% a week earlier and 4.4% a
year earlier. Rates on 15-year fixed-rate mortgages averaged 2.97%,
compared with 3.06% the previous week and 3.42% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.92%, compared with 2.97% the previous
week and 3.1% a year earlier. One-year Treasury-indexed ARM rates
on average were at 2.46%, unchanged from last week and up from
2.44% a year ago.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
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