The 30-year fixed-rate mortgage (FRM) was 4.40 percent, with an average 0.7 point, the week ending Aug 8, according to Freddie Mac’s weekly Primary Mortgage Market Survey.
Last week, the 30-year FRM averaged 4.39 percent. It was 3.59 percent a year ago.
Meanwhile, the average interest rate on the 15-year FRM was 3.43 percent with an average 0.7 point, unchanged from last week. A year ago, the 15-year FRM averaged 2.84 percent.
“Mortgage rates were relatively unchanged following a mixed employment report for July,” says Frank Nothaft, vice president and chief economist of Freddie Mac.
For the 5-year Treasury-indexed hybrid adjustable rate mortgage (ARM), the average interest rate was 3.19 percent, with an average 0.5 point, up from last week’s 3.18 percent. A year ago, the 5-year ARM was 2.77 percent.
Finally, for the week ending Aug 8, Freddie Mac reported the 1-year Treasury-indexed ARM averaged 2.62 percent, with an average 0.3 point, down from 2.64 percent last week, and down from 2.65 percent a year ago.