Industry News

Weekly real estate rates continue to slide

New GDP figures, Fed statement will dictate future movement

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Long-term mortgage rates declined for the fourth consecutive week, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.66 percent for the week ended today, down slightly from last week when it averaged 5.67 percent. The average for the 15-year fixed-rate mortgage this week is 5.14 percent, down from last week when it averaged 5.15 percent. Points on both the 30- and 15-year averaged 0.6. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.02 percent this week, with an average 0.6 points, down from 5.05 last week. There is no historical information for last year since Freddie Mac began tracking this mortgage rate at the start of this year. The one-year Treasury-indexed adjustable-rate mortgage averaged 4.18 percent this week, with an average 0.8 point, up from last week when it averaged 4.11 percent. "Until the market gets a better read of how the economy performed at the end of last year and ho...