Mortgage Rates in U.S. Move Lower Again in Early 2017

---

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate moved lower for the second consecutive week in January 2017.
 
Sean Becketti, chief economist of Freddie Mac said, "After absorbing a mixed December jobs report; the 10-year Treasury yield fell 8 basis points. The 30-year mortgage rate moved in tandem with Treasury yields falling 8 basis points to 4.12 percent, the second decline since the presidential election. The December jobs report showed 156,000 jobs added, barely meeting many experts' expectations, while wage growth was at the high end of expectations at 0.4 percent. If strong wage gains persist, they may push inflation and interest rates higher."

Freddie Mac News Facts:

• 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending January 12, 2017, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.92 percent. 

• 15-year FRM this week averaged 3.37 percent with an average 0.5 point, down from last week when it averaged 3.44 percent. A year ago at this time, the 15-year FRM averaged 3.19 percent. 

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.5 point, down from last week when it averaged 3.33 percent. A year ago, the 5-year ARM averaged 3.01 percent.