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Mortgage rates skid to lowest level in a year

Steve Goldstein
Mortgage rates skid to lowest level in a year

Mortgage rates skidded last week to the lowest level in a year. The 15-year fixed rate fell to 3.76% from 3.83%, while the 5-year hybrid adjustable rate mortgage fell to 3.84% from 3.87%. “Mortgage rates declined decisively this week amid various market reports, a strong bond auction and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower,” said Sam Khater, chief economist of Freddie Mac, in a statement.