Long-term mortgage rates followed Treasury bond yields higher this week, bringing fixed rate mortgages back up to levels seen two weeks ago, Freddie Mac said today.

The 30-year fixed-rate mortgage (FRM) averaged 6.46 percent with an average 0.7 point for the week ending Oct. 30, up from 6.04 percent a week ago and 6.26 percent a year ago, Freddie Mac said in releasing its weekly Primary Mortgage Market Survey.

The 15-year FRM this week averaged 6.19 percent with an average 0.7 point, up from 5.72 percent last week and 5.91 percent a year ago.

Long-term mortgage rates followed Treasury bond yields higher this week, bringing fixed-rate mortgages back up to levels seen two weeks ago, Freddie Mac said today.

The 30-year fixed-rate mortgage (FRM) averaged 6.46 percent with an average 0.7 point for the week ending Oct. 30, up from 6.04 percent a week ago and 6.26 percent a year ago, Freddie Mac said in releasing its weekly Primary Mortgage Market Survey.

The 15-year FRM this week averaged 6.19 percent with an average 0.7 point, up from 5.72 percent last week and 5.91 percent a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.36 percent this week with an average 0.7 point, up from 6.06 percent last week and 5.98 percent a year ago.

One-year Treasury-indexed ARMs averaged 5.38 percent this week with an average 0.6 point, up from 5.23 percent last week but down from 5.57 percent a year ago.

Although the Federal Reserve trimmed the discount rate and federal funds target rate by 0.5 percent Wednesday, the cuts in short-term interest rates were widely anticipated in the financial markets (see story).

Initial interest rates on ARMs, which tend to be set relative to other short-term rates, may remain near current levels, said Frank Nothaft, Freddie Mac vice president and chief economist.

***

What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription