Fixed-rate mortgages dropped slightly this week compared to the previous week, and continue to hover near all-time lows.
Freddie Mac reports the following national averages for the week ending Aug. 18:
- 30-year fixed-rate mortgages: averaged 3.43 percent, with an average 0.5 point, dropping from last week’s 3.45 percent average. Last year at this time, 30-year rates averaged 3.93 percent.
- 15-year fixed-rate mortgages: averaged 2.74 percent, with an average 0.5 point, dropping from last week’s 2.76 percent average. A year ago, 15-year rates averaged 3.15 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.76 percent, with an average 0.4 point, rising from last week’s 2.74 percent average. A year ago, 5-year ARMs averaged 2.94 percent.
Source: Freddie Mac