For the week ending October 15, Freddie Mac said 30-year fixed mortgage rates averaged 4.92 percent with an average 0.7 point, up just five basis points from last week.

Despite the no point rate at around 5.10%, borrowers appear to be very sensitive to rate levels, and thus more responsive to declines below 5%.  For example, yesterday the MBA reported its Refi Index was essentially flat at 3374 for the week ending October 9 as mortgages backed up a bit, after jumping 18% in the previous week as mortgage rates dropped below 4.9% with the no point rate at just over 5%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.