The WPJ
Residential Real Estate News
Fixed Mortgage Rates in U.S. Remain Flat in Mid-February
According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. fixed mortgage rates remained unchanged from the previous week and remaining near there 2015 lows.
Sean Becketti, chief economist at Freddie Mac said, "After another week of financial market oscillations driven by rumors of potential limits on oil production, the 10-year Treasury yield edged up 5 basis points, and the 30-year mortgage rate remained unchanged at 3.65 percent. Despite this week's uptick in Treasury yields, the 10-year is still 54 basis points lower than it stood at the end of 2015, while the mortgage rate has dropped only 36 basis points over the same period."
Freddie Mac News Facts:
- 30-year fixed-rate mortgage (FRM) averaged 3.65 percent with an average 0.5 point for the week ending February 18, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.
- 15-year FRM this week averaged 2.95 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.05 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week with an average 0.4 point, up from last week when it averaged 2.83 percent. A year ago, the 5-year ARM averaged 2.97 percent.
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