Mortgage Rates Continued Near Record Lows Last Month

The average yield on the benchmark, 10-Year, U.S. Treasury Note was 1.56% last month, which has contributed much to keeping mortgage rates near record lows.

For August 2016, the average rate on conforming, fixed-rate mortgage (FRM) loans were:

• 15-year, fixed-rate: 2.75%
  
• 30-year, fixed-rate: 3.44% 

Mortgage Rates History

The all-time, record-low average monthly FRM rates were set back in November and December of 2012:

• 2.66% for a 15-year FRM
• 3.35% for a 30-year FRM.

Chart: Prime Rate versus 15- and 30-Year Mortgage Rates versus U.S. 10-Year Treasury Yield