30-Yr Fixed Conforming at 5.07%: 10-Week Low
According to the latest issue of HSH.com’s Market Trends Newsletter, “The all-important 30-year fixed conforming average slipped to 5.07% [last week],” a 10-week low point:
[Last] week, the overall average for 30-year fixed-rate mortgages tracked by HSH.com’s FRMI sported a decline of six basis points (.06%), ending HSH.com’s survey week at 5.34%, the lowest such average since mid-December 2009. The FRMI includes conforming, jumbo and the GSE’s “high-limit” conforming products in its calculation. The average interest rate for the FRMI’s Hybrid 5/1 ARM counterpart lost a full tenth-percentage point (.10%) during the latest survey cycle, closing the survey week at 4.48%.
