WASHINGTON–Mortgage rates remain at near record lows. According to the latest averages reported by Freddie Mac:
- 30-year fixed-rate mortgage (FRM) averaged 3.42% with an average 0.5 point for the week ending Oct. 6, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76%.
- The 15-year FRM averaged 2.72% with an average 0.5 point, unchanged from one week earlier. A year ago at the same time, the 15-year FRM averaged 2.99%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80% this week with an average 0.4 point, down from last week when it averaged 2.81%. A year ago, the 5-year ARM averaged 2.88%.
“The 10-year Treasury yield leaped to a two-week high following reports of the European Central Bank retreating from its bond-buying program ahead of its initial March deadline,” said Sean Becketti, chief economist, Freddie Mac, in a statement. “In contrast, the 30-year fixed-rate mortgage remained unchanged at 3.42%. Over the past two weeks, mortgage rates have remained fairly flat while Treasury yields have fallen and risen. This Friday's jobs report will provide clarity on whether or not mortgage rates follow the recent upward trend in Treasury yields."