Mortgage Rates On The Rise

MCLEAN, Va., — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.69 percent, up 12 basis points from last week.

“Despite this week’s uptick in mortgage rates, the housing market remains on the upswing with improvement in construction and home sales,” said Sam Khater, Freddie Mac’s Chief Economist. “While there has been a material weakness in manufacturing and consistent trade uncertainty, other economic trends like employment and homebuilder sentiment are encouraging.”

News Facts

• 30-year fixed-rate mortgage averaged 3.69 percent with an average 0.6 point for the week ending October 17, 2019, up from last week when it averaged 3.57 percent. A year ago at this time, the 30-year FRM averaged 4.85 percent. 
• 15-year fixed-rate mortgage averaged 3.15 percent with an average 0.5 point, up from last week when it averaged 3.05 percent. A year ago at this time, the 15-year FRM averaged 4.26 percent. 
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent with an average 0.4 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 4.10 percent.