Week of October 07, 2021
Average mortgage rates dropped slightly this week, according to the latest Freddie Mac Primary Mortgage Market Survey.
“Mortgage rates continue to hover at around three percent again this week due to rising economic and financial market uncertainties,” said Sam Khater, Freddie Mac’s chief economist. “Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”
As of October 7, Mortgage News Daily listed the average 30-year rate at 3.15 percent, the 15-year rate at 2.52 percent, and the 5-year ARM at 2.75 percent.
Bankrate listed going rates for 30-year fixed loans at 3.13 percent, 15-year fixed at 2.39 percent, and the 5-year ARM at 2.79 percent.