WASHINGTON—Mortgage rates declined for the third consecutive week in the most Freddie Mac data.
That data showed the 30-year fixed-rate mortgage (FRM) averaged 3.81% with an average 0.6 point for the week ending Jan. 21, 2016, down from the prior week when it averaged 3.92%. At the same time one-year earlier, the 30-year FRM averaged 3.63%.
Meanwhile, the 15-year FRM last week averaged 3.10% with an average 0.5 point, down from 3.19% last week. A year ago at this time, the 15-year FRM averaged 2.93%.
The Freddie Mac data showed the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91% this week with an average 0.5 point, down from last week when it averaged 3.01%. A year ago, the five-year ARM averaged 2.83%.