US Mortgage Rates Trend Lower in the Week Ending October 9
Mortgage Rates Move Down
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, October 9.
The 30-year fixed-rate mortgage averaged 6.30%, down from 6.34% the previous week. A year ago at this time, the 30-year rate averaged 6.32%.
The 15-year fixed-rate mortgage averaged 5.53%, down from 5.55% last week. A year ago at this time, the 15-year rate averaged 5.41%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates decreased this week. Over the last few weeks, mortgage rates have settled in at their lowest level in about a year. There is growing evidence that homebuyers are digesting these lower rates and gradually are willing to move forward with buying a home, which is boosting purchase activity.”
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