Mortgage rates flatline as housing market slows

30-year fixed-rate average rates remained at 3.83% with an average 0.6 point

Miami /
Sep.September 28, 2017 12:00 PM

U.S. mortgage rates flatlined this week. After recently increasing, fixed mortgage rates stalled as the housing market continues to slow, according to the Washington Post.

Freddie Mac data showed the 30-year fixed-rate average remained at 3.83 percent with an average 0.6 point, same as a week ago, according to the Washington Post. Last year it was at 3.42 percent. The 15-year fixed-rate average was also flat, at 3.13 percent with an average 0.5 point. It was 2.72 percent a year ago.

Meanwhile the five-year adjustable rate average rose to 3.20 percent, from 3.17 percent last week, with an average 0.5 point. It was 2.81 percent a year ago.

With home prices and mortgage rates on the rise overall, the housing market is expected to slow even further, according to the Washington Post. In August, pending homes sales fell 2.6 percent and existing sales of homes fell 1.7 percent. Both measures have declined in four of the past five months. New home sales dropped 1.7 percent, according to the Washington Post.

The refinance share of mortgage activity accounted for 50.8 percent of all applications, according to the Washington Post. [The Washington Post]Amanda Rabines

 

Related Articles

arrow_forward_ios
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Gables Town Colony apartment complex, Sue Ansel of Gables Residential
Gables Residential scores $85M loan for Boca Raton apartment complex
Gables Residential scores $85M loan for Boca Raton apartment complex
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...