Today's mortgage rates
Latest Rate Analysis
As noted here last week, we expected that the top of the mortgage rate spike would be trimmed off by selloffs in the stock market, and it was. That said, there's little reason to expect rates to decline further.
Freddie Mac reported this morning that the average offered rate for a conforming 30-year fixed-rate mortgage declined by five basis points (0.05%), slipping to 4.85%. Fifteen-year FRMs eased by just three basis points (0.03%), but that saw the average offered rate nudged down to 4.26%. More sensitive to moves in short-term rates, and with the Fed all but confirming another rate hike come December, hybrid 5/1 ARM continued upward for fourth straight week, with a rise of three one-hundredths of a percentage point (0.03%) leaving the average rate at 4.10%.
Financial markets have had an uneasy time of it lately, and markets remain quite unsettled. A bit of a buying opportunity in stocks for relative value seekers has contributed to rates firming a bit in the last day or so, and odds favor that at least a portion of this week's small decline in mortgage rates will disappear in the coming days.
Updates on market conditions can be found each week in our MarketTrends newsletter.
| 08/02 | 08/09 | 08/16 | 08/23 | 08/30 | 09/06 | 09/13 | 09/20 | 09/27 | 10/04 | 10/11 | 10/18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30-year-Fixed | 4.600% | 4.590% | 4.530% | 4.510% | 4.520% | 4.540% | 4.600% | 4.650% | 4.720% | 4.710% | 4.900% | 4.850% |
| 15-year-Fixed | 4.080% | 4.050% | 4.010% | 3.980% | 3.970% | 3.990% | 4.060% | 4.110% | 4.160% | 4.150% | 4.290% | 4.260% |
| 5-year-ARM | 3.930% | 3.900% | 3.870% | 3.820% | 3.850% | 3.930% | 3.930% | 3.920% | 3.970% | 4.010% | 4.070% | 4.100% |
| Loan type/terms | Fixed 30 years | Fixed 15 years/ 20 Years | Hybrid ARM | Traditional ARM | Balloon Mortgage |
|---|---|---|---|---|---|
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