Mortgage rates stay below 5%

Bump in rates for both fixed and ARM loans

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Rates on 30-year fixed-rate mortgages stayed below 5 percent for the third week in a row, averaging 4.92 percent with an average of 0.7 point for the week ending Oct. 15, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

That’s up from 4.87 percent last week, but well below the 6.46 percent average surveyed at the same time a year ago.