•30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending
•15-year FRM this week averaged 3.23 percent with an average 0.6 point, down from last week when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 3.60 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.95 percent this week with an average 0.5 point, down from last week when it averaged 2.97 percent. A year ago, the 5-year ARM averaged 3.21 percent.
•1-year Treasury-indexed ARM averaged 2.38 percent this week with an average 0.5 point, up from last week when it averaged 2.36 percent. At this time last year, the 1-year ARM averaged 2.67 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
"Mortgage rates were down slightly this week, following the decline in 10-year Treasury yields. Meanwhile, housing starts in July jumped 15.7 percent to 1.093 million units after falling 4.0 percent a month earlier. Also, July's consumer prices increased at a 0.1 percent seasonally adjusted pace, the slowest in five months."
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