30-year fixed-rate mortgage averages 3.49% for the week ending Sept. 5, 2019, its lowest since October 2016, according to the Freddie Mac Primary Mortgage Market Survey.
That's down 9 basis points from 3.58% in the prior week and more than a full percentage point from 4.54% at this time a year ago.
"While economic growth is clearly slowing due to rising manufacturing and trade headwinds, economic fundamentals are still solid for U.S. consumers," said Freddie Chief Economist Sam Khater.
15-year FRM averaged 3.00% vs. 3.06% in the prior week and 3.99% at this time a year ago.
5-year Treasury-indexed hybrid adjustable rate mortgage averaged 3.30% vs. 3.31% in the prior week and 3.93% at this time a year ago.
For mortgage REITs: Annaly Capital Management (NLY +1.9%), AGNC Investment (AGNC +1.7%), Two Harbors Investment (TWO +1.5%), Orchid Island Capital (ORC +1.7%), Arlington Asset Investment (AI +1.4%), and Anworth Mortgage Asset (ANH +1.6%).
Now read: Annaly Preferred Issue Faces Call Risk »
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