Mortgage rates this week eased from their four-week ascent, as inflation became less of a concern to investors, according to surveys conducted by Freddie Mac and

In Freddie Mac’s survey, the 30-year fixed-rate mortgage averaged 6.26 percent for the week ended today, down from last week’s average of 6.28 percent. The average for the 15-year fixed-rate mortgage is 5.89 percent, down from last week’s average of 5.91 percent. Points on both the 30- and 15-year averaged 0.6.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.96 percent this week, with an average 0.6 point, up slightly from last week when it averaged 5.95 percent. The one-year Treasury-indexed ARM averaged 5.32 percent, with an average 0.7 point, down from last week when it averaged 5.36 percent.

“Tame core inflation figures and market confidence that the Fed will continue to keep inflation low kept mortgage rates in check this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Over the long term, we expect mortgage rates will bounce back and forth a bit, remaining near current levels.

“Based on applications for home purchases in November and December, we also expect that home sales will slow to a more traditional pace in January and February.”

In’s survey, fixed mortgage rates fell as investors put on the inflation blinders, but adjustable mortgage rates climbed in anticipation of additional Fed interest-rate hikes. The average 30-year fixed-rate mortgage dipped from 6.37 percent to 6.34 percent, reported. The 30-year fixed-rate mortgages in this week’s survey had an average of 0.3 discount and origination points. reported that the average 15-year fixed mortgage rate retreated by a similar amount, from 6.02 percent to 5.99 percent, and the average jumbo 30-year fixed rate dropped to 6.53 percent from 6.58 percent last week. Adjustable-rate mortgages increased, with the average 5/1 ARM rising from 6.05 percent to 6.08 percent, and the average one-year ARM moving from 5.69 percent to 5.73 percent.

A stronger economic outlook and continued inflation worries were lost on — or just ignored by — investors as bond yields and fixed mortgages dipped this week, according to Fixed mortgage rates are closely related to yields on long-term government securities. But, adjustable rates climbed as short-term interest-rate benchmarks plod higher. The result is the narrowest spread between fixed and adjustable mortgage rates in nearly five years.

Although fixed mortgage rates are higher than one year ago, the increase pales compared to the increases in interest rates and monthly payments facing adjustable-rate-mortgage borrowers. Fixed mortgage rates currently represent an attractive refinancing alternative for adjustable rate borrowers, said.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide 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.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
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