Ready to Get Started? Get a Free Rate Quote Now.

Baltimore mortgage rates mostly fell this week, with short-term adjustable-rate mortgage again hitting record lows, although the average on 30-year, fixed-rate mortgages edged up for the third straight week, according to Freddie Mac‘s weekly survey.

The short-term rates Freddie tracks—for five-year and one-year Treasury-indexed hybrid adjustable-rate mortgages—hit the lowest levels since the mortgage financier began tracking them in January 2005 and January 1984, respectively.

Rates have been slumping for months, setting record lows in the process, as yields on Treasurys slid amid economic uncertainty. Mortgage rates generally track yields, which move inversely to Treasury prices.

The 30-year fixed-rate mortgage averaged 4.24 percent for the week ended Thursday, up from the prior week’s 4.23 percent average but down from 4.98 percent a year ago. The average for 15-year fixed was 3.63 percent, down from 3.66 percent and 4.40 percent, respectively.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.39 percent, down from the prior week’s 3.41 percent and 4.35 percent a year earlier. One-year Treasury-indexed ARMs were 3.26 percent, dropping from 3.3 percent last week and 4.47 percent a year ago.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.