November 1st, 2018 | Mortgage News
The average rate on a 30-year fixed rate mortgage fell to 4.83% in the latest week, according to mortgage guarantor Freddie Mac, down from 4.86% the week before. Investors flocked to bonds for safety as the stock market tumbled, and mortgage rates typically follow bond yields. The 15-year fixed rate mortgage also saw rates decline, falling to 4.23% from 4.29%. The average rate on a 5-year Treasury-indexed adjustable rate mortgage sank to 4.04% from 4.14%.