Mortgage Rates Drop to a 16-Month Low

Interest rates on U.S. 30-year and 15-year fixed-rate mortgages decreased to their lowest levels in 16 months in step with lower U.S. bond yields amid worries about trade tension between China and the United States, Freddie Mac said on Thursday.

  • 30-Year Fixed Mortgage (FRM): Averaged 4.06 percent, down from last week when it averaged 4.07 percent. A year ago at this time, the 30-year FRM averaged 4.66 percent.
  • 15-Year Fixed Mortgage: Averaged 3.51 percent, down from last week when it averaged 3.53 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.
  • 5-Year Adjustable-Rate Mortgage (ARM): Averaged 3.68 percent, up from last week when it average 3.66 percent. A year ago at this time, the 5-year ARM averaged 3.87 percent.