Mortgage rates took a dive across the board, reaching the lowest levels in months, according to the latest Freddie Mac Primary Mortgage Market Survey.
According to the survey, the 30-year fixed-rate mortgage declined from 4.51% last week, averaging 4.45% for the week ending Jan. 10, 2019. That being said, this is still an increase from last year’s rate of 3.99%.
The 15-year FRM averaged 3.89% this week, sliding from last week’s average of 3.99%. Notably, this time last year, the 15-year FRM was 3.44%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.83%, retreating from 3.98% the week before. Once again, the rate remains higher than this time in 2018 when it averaged 3.456%.