Freddie Mac Weekly Survey: 30-Year Fixed Mortgage Rate Falls to 7.24 Percent, the Lowest This Month
Freddie Mac released its weekly Primary Mortgage Market Survey (PMMS) in McLean, Virginia, on October 29: the average rate on a 30-year fixed-rate mortgage fell to 7.24 percent, down from 7.32 percent the week before and the lowest level this month. A year ago the 30-year average was 6.17 percent.
The 15-year fixed-rate mortgage averaged 6.60 percent, down from 6.68 percent the previous week; a year ago it averaged 5.41 percent.
Freddie Mac Chief Economist Sam Khater noted that mortgage rates declined further this week, with the 30-year fixed rate reaching its lowest point of the month.
The PMMS tracks conventional, conforming, fully amortizing purchase-money loans with a 20 percent down payment and excellent credit. This report continues GSM's weekly coverage of the survey; last week's 30-year figure was 7.32 percent.
Source: GSM · USA (original Chinese edition)
Photo: 美国居民区街道（资料图）。CC BY-SA 3.0，经 Wikimedia Commons。 / A residential street in the United States (file photo). CC BY-SA 3.0, via Wikimedia Commons.
