The normal fixed mortgage rate following Treasury yields lower in mid-October 2015, which continue to benefit the housing market.
Sean Becketti, chief economist of Freddie Mac stated, following "Daniel Tarullo's of Federal Reserve Governor Remarks last week Treasury yields dipped. In answer, 30-year mortgage rates fell three basis points this week to 3.79 %.
The housing market continues to profit from low mortgage rates; with housing starts for September beat vision and the NAHB's Housing Market index register a ten year high in October.
➻ 30-year mortgage fixed-rate averaged 3.79 % with an average 0.6 point for the week ending October 22, 2015, down from last week when it averaged 3.82 %. One year ago at this time, the 30-year FRM averaged 3.92 %.
➻ 15-year FRM this week averaged 2.98 percent with an average 0.5 point, down from last week when it averaged 3.03 %. One year ago at this time, the 15-year FRM averaged 3.08 %.
➻ 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.89 % this week with an average 0.4 point, up from last week when it averaged 2.88 %. A year ago, the 5-year ARM averaged 2.91 %.
➻ One year Treasury-indexed ARM averaged 2.62 % this week with an average 0.2 point, up from 2.54 % last week. At this time last year, the one-year ARM averaged 2.41 %.