Last week, rates held their lows they reached the week before.

For the week ending August 15, Freddie Mac announced that 30-year fixed rates remained at 3.60%. The average for 15-year loans increased slightly to 3.07% and the average for five-year ARMs moved down one tick to 3.35%. A year ago, 30-year fixed rates averaged 4.53%, almost 1.0% higher than today. "The sound and fury of the financial markets continue to warn of an impending recession; however, the silver lining is that residential loan demand reached a three-year high this week. The decline in rates over the last month is causing a spike in refinancing activity – as homeowners currently have $2 trillion in conventional loans that are in the money – which will help support consumer balance sheets and increase household cash flow. On top of that, purchase demand is up seven percent from a year ago," said Sam Khater, Chief Economist, Freddie Mac.

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current Indices for Adjustable Rate Mortgages 
Updated August 16, 2019