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Archive for May 19th, 2017

30-Year Mortgage Rates Hover Around 4%

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30-Year Mortgage Rates Hover Around 4%
Source: Freddie Mac; Article by Daily Real Estate News | May 19, 2017

For the fifth consecutive week, the 30-year fixed-rate mortgage remained around 4 percent.

“The 30-year mortgage rate fell 3 basis points this week to 4.02 percent,” says Sean Becketti, Freddie Mac’s chief economist. “However, this week’s survey closed prior to Wednesday’s flight to quality. The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week’s survey.”

rates051817

Freddie Mac reports the following national averages with mortgage rates for the week ending May 18:

  • 30-year fixed-rate mortgages averaged 4.02 percent, with an average 0.5 point, dropping from last week’s 4.05 percent average. Last year at this time, 30-year rates averaged 3.58 percent.
  • 15-year fixed-rate mortgages averaged 3.27 percent, with an average 0.5 point, falling from last week’s 3.29 percent average. A year ago, 15-year rates averaged 2.81 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.13 percent, with an average 0.5 point, dropping from last week’s 3.14 percent average. A year ago, 5-year ARMs averaged 2.80 percent.

Source: Freddie Mac; REALTOR® Magazine Online, Daily Real Estate News 051917

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Written by Kenneth Bargers

May 19, 2017 at 6:25 pm

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