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Residential Real Estate News
Mortgage Rates in U.S. Hit 2017 Lows in Mid-April
According to Freddie Mac's latest Primary Mortgage Market Survey released April 13, 2017, the 30-year mortgage rate in the U.S. dropped for the fourth consecutive week and hitting a new low for 2017.
Sean Becketti, chief economist of Freddie Mac said, "Following a weak March jobs report, the 10-year Treasury yield dropped about 5 basis points. The 30-year mortgage rate fell 2 basis points to 4.08 percent. Not only did the average 30-year fixed-rate mortgage decline for the fourth consecutive week in our survey, it also fell to a new 2017 low."
Freddie Mac News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending April 13, 2017, down from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent.
- 15-year FRM this week averaged 3.34 percent with an average 0.5 point, down from last week when it averaged 3.36 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.4 point, down from last week when it averaged 3.19 percent. A year ago, the 5-year ARM averaged 2.84
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