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Mortgage Rates Descend to Year Low

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Mortgage rates descended to a new year low with the 30-year, fixed rate averaging 3.82 percent, down from 3.86 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.12 percent, down from 3.16 percent the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.14 percent, down from 3.17 percent the week prior.

“The 10-year Treasury yield fell to a new 2017-low [this week],” says Sean Becketti, chief economist at Freddie Mac. “In response, the 30-year mortgage rate dropped four basis points to 3.82 percent, reaching a new year-to-date low for the second consecutive week. However, recent releases of positive economic data could halt the downward trend of mortgage rates.”

Source: Freddie Mac

Courtesy of RISMedia.com

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Mortgage Rates Dive to Another Low

Mortgage rates dove to another low this week, with the 30-year, fixed rate averaging 3.90 percent, down from 3.93 percent the week prior, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.18 percent, the same from the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.14 percent, down from 3.15 percent the week prior.

“After holding relatively flat last week, the 10-year Treasury yield fell four basis points this week,” says Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved in tandem with Treasury yields, dropping three basis points to 3.90 percent. Earlier this week, Federal Reserve officials highlighted the influence of continued weak inflation data on rates.”

Source: Freddie Mac

Courtesy of : RISMedia.com