Mortgage interest rates remained essentially flat in Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending October 2nd. The average interest rate for 30-year fixed-rate mortgages (FRM) was 4.19%, slightly down from the week before when the average was 4.20%. The average 15-year FRM interest rate was 3.36%, unchanged from the prior week.
Adjustable-rate mortgage (ARM) interest rates averaged slightly lower than the previous week. The average 5-year ARM interest rate was 3.06%, down from 3.08% and the 1-year ARM interest rate was 2.42%, down from 2.43%. Read the full PMMS results at http://mwne.ws/1vy9ocs.