September Marks The Most Volatile Month Of Fixed Rate Mortgage Since March

MCLEAN, Va. — Freddie Mac yesterday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.64 percent.

September has been the most volatile month since March, in terms of the 30-year fixed-rate mortgage, averaging a weekly movement of 11 basis points.

Sam Khater, Freddie Mac’s Chief Economist, says, “With both the unemployment rate and mortgage rate below four percent and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity.”

News Facts

• 30-year fixed-rate mortgage averaged 3.64 percent with an average 0.6 point for the week ending September 26, 2019, down from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 4.72 percent. 
• 15-year fixed-rate mortgage averaged 3.16 percent with an average 0.5 point, down from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 4.16 percent. 
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.38 percent with an average 0.4 point, down from last week when it averaged 3.49 percent. A year ago at this time, the 5-year ARM averaged 3.97 percent.