Devereux Point, Isla Vista in Santa Barbara by Chris Potter
For 10 Weeks, Mortgage Rates Stay Below 4%
Thirty-year fixed-rate mortgages continue to hold below 4 percent, often an attractive lure for home buyers and refinancers.
“In contrast to the volatility in equity markets, the 10-year Treasury rate — a key driver of mortgage rates — varied just a little more than 10 basis points over the last week,” says Sean Becketti, Freddie Mac’s chief economist. “As a result, the 30-year mortgage rate remained virtually unchanged, dropping 1 basis point to 3.85 percent. This marks the tenth consecutive week of a sub-4-percent mortgage rate.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 1:
Daily Real Estate News October 2015
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