Mortgage Rates Descend to Year Low

Mortgage rates descended to a new year low this week, with the 30-year, fixed rate averaging 3.82 percent, down from 3.86 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.12 percent, down from 3.16 percent the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.14 percent, down from 3.17 percent the week prior.
“The 10-year Treasury yield fell to a new