Weekly Mortgage Rates Drop Slightly

Weekly Mortgage Rates Drop Slightly

Weekly Mortgage rates dipped a bit in early August, according to Freddie Mac’s latest Primary Mortgage Market Survey. The 30-year fixed mortgage rate dropped to its lowest point in six weeks.

  • 30-year Fixed: Averaged 3.90%, down from last week when it averaged 3.93%. A year ago at this time, the 30-year FRM averaged 3.45%.
  • 15-year Fixed: Averaged 3.18%, the same as last week. A year ago at this time, the 15-year FRM averaged 2.76%.
  • 5-year Adjustable-Rate Mortgage (ARM): Averaged 3.14%, down from last week when it averaged 3.15%. A year ago at this time, the 5-year ARM averaged 2.74%.