Mortgage Rates Tumble on Weak Jobs Report

9 October 2015

Mortgage Rates Tumble on Weak Jobs Report

Freddie Mac

8 October 2015

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing average fixed mortgage rates following Treasury yields lower following a more than disappointing September jobs report. This continues to keep average rates below four percent for the 11th consecutive week, including the 15-year fixed falling below 3 percent once again for the first time since April of this year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.76 percent with an average 0.6 point for the week ending October 8, 2015, down from last week when it averaged 3.85 percent. A year ago at this time, the 30-year FRM averaged 4.19 percent.
  • 15-year FRM this week averaged 2.99 percent with an average 0.6 point, down from last week when it averaged 3.07 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week with an average 0.4 point, down from 2.91 percent last week. A year ago, the 5-year ARM averaged 3.06 percent.
  • 1-year Treasury-indexed ARM averaged 2.55 percent this week with an average 0.2 point, up from 2.53 percent last week. At this time last year, the 1-year ARM averaged 2.42 percent.