August survey rates
Freddie Mac survey figures discussed in the November 2017 archive put the average 30-year fixed mortgage rate at 3.86% in August, compared with 3.43% a year earlier. The article also cited a 3.16% average for a 15-year fixed loan and 3.17% for a five-year adjustable-rate mortgage.
These were survey observations for different products. They were not a promise that a particular buyer could obtain the average rate, and the adjustable-rate figure did not describe the cost of that loan throughout its full term.
The rate was only part of the price
The reporting explained mortgage points alongside interest rates. A point represents 1% of the loan amount; quoted rates with different point charges therefore need not have the same upfront cost. The article discussed average points on 30-year loans moving from 0.4 to 0.5, as well as separate figures for shorter loans.
It also compared Treasury yields and existing-home sales during the period. Those observations supplied market context, but a nearby change in a bond yield or political event did not by itself establish why every lender changed its price.
Later quotations were different snapshots
Late-October Massachusetts and Boston quotations appeared elsewhere in the discussion. State averages, local advertisements and national lender quotes were separate series rather than interchangeable offers.
For readers considering this history, the useful distinction is between the loan type, quoted rate, points and other costs. None of the 2017 numbers is a current mortgage quote or a recommendation to refinance.
Historical attribution: Original Boston City Properties article, November 2017. Reported claims and attributed assessments have not been independently refreshed.