by Calculated Risk on 10/10/2013 02:16:00 PM
Thursday, October 10, 2013
Freddie Mac: Fixed Mortgage Rates Little Changed
From Freddie Mac today: Fixed Mortgage Rates Little Changed
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates changing little for the week amid the federal debt impasse in Washington, D.C. and a light week of economic data releases. ...The high this year for 30 year rates in the Freddie Mac survey was 4.58%, and the high for 15 year rates was 3.60%.
30-year fixed-rate mortgage (FRM) averaged 4.23 percent with an average 0.7 point for the week ending October 10, 2013, up from last week when it averaged 4.22 percent. A year ago at this time, the 30-year FRM averaged 3.39 percent.
15-year FRM this week averaged 3.31 percent with an average 0.7 point, up from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.70 percent.
Here is an update to a graph that shows the relationship between the monthly 10 year Treasury Yield and 30 year mortgage rates from the Freddie Mac survey.

Currently the 10 year Treasury yield is 2.69% and 30 year mortgage rates are at 4.23% (according to Freddie Mac). Based on the relationship from the graph, the 30 year mortgage rate (Freddie Mac survey) would be around 5% when 10-year Treasury yields are around 3.33% (not happen any time soon).
Note: The yellow marker is the current (last week) relationship.