Industry NewsMortgage

30-year fixed-rate near 5 percent

Low mortgage rates, falling prices boost affordability

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Prime borrowers able to put 20 percent down on a home purchase were offered 30-year fixed-rate mortgages this week at just above 5 percent, Freddie Mac said in announcing the results of its Primary Mortgage Market Survey.The 30-year fixed rate mortgage averaged 5.08 percent with an average of 0.7 point, down from 5.14 percent a week ago and 6.35 percent a year ago, Freddie Mac said.The 15-year fixed-rate mortgage this week averaged 4.54 percent with an average 0.6 point, down from 4.58 percent last week and 5.90 percent a year ago.Five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 4.59 percent this week, with an average 0.6 point, down from 4.67 percent last week and 5.97 percent a year ago.One-year Treasury-indexed ARMs averaged 4.62 percent this week with an average 0.6 point, down from 4.69 percent last week and 5.15 percent a year ago.Borrowers making smaller down payments, refinancing with a loan-to-value ratio of more than 80 percent, or who don't qua...