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News Link • Housing

Mortgage rates resume free fall as 'uncertainty' swirls

•, By Andrea Riquier

The 30-year fixed-rate mortgage averaged 3.89% during the August 17 week, down from 3.90% in the prior week and now just one basis point above its 2017 low. The 15-year fixed-rate mortgage averaged 3.16%, down from 3.18%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.16%, up two basis points during the week.

Those rates don't include fees associated with obtaining mortgage loans.

The 10-year Treasury TMUBMUSD10Y, +0.39%  , which mortgage rates track, was little changed during the week as geopolitical worries faded and economic data remained strong, reversing earlier investor appetite for safe-haven assets like government bonds.

"Mortgage rates are continuing to hold at low levels amidst ongoing economic uncertainty," Freddie's economist noted in a release.

Freddie's survey was conducted before bond yields tumbled on dovish meeting minutes from the Federal Reserve out Wednesday, so it's possible mortgage rates could follow suit next week.

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