ABBA First Mortgage News

The trend continues as rates rise again towards the end of this past week on Friday 10/20

Rates ticked down in the past week, but trended higher towards the end of the survey period. For the week ending October 19, Freddie Mac announced that 30-year fixed rates fell to 3.88% from 3.91% the week before. The average for 15-year loans decreased as well, to 3.19%. The average for five-year adjustables moved up one tick to 3.17%, bucking the trend. A year ago, 30-year fixed rates averaged 3.52%. Attributed to Sean Becketti, chief economist, Freddie Mac — “Rates came down slightly this week, ending a brief, two-week streak of increases. The 10-year Treasury yield dipped 6 basis points, while 30-year fixed rates fell 3 basis points to 3.88 percent.” Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

We still believe in working with our clients with the absolute best service that they can expect to receive while delivering rate and fees that are less than our competition.  Please call us at 866-676-3349 for your detailed quote specifically designed with you and your mortgage needs in mind.

Leave a Reply