Mortgage Rates Hit Lowest Mark of 2017

By April 18, 2017News

Freddie Mac’s most recent Primary Mortgage Market Survey shows the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017.

“Following a weak March jobs report, the 10-year Treasury yield dropped about 5 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “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.”

Here’s a look at Freddie Mac’s survey findings for the week ending April 13:

  • The 30-year fixed-rate mortgage averaged 4.08 percent, with an average 0.5 point, down from the previous week when it averaged 4.10 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.58 percent.
  • The 15-year fixed-rate mortgage averaged 3.34 percent, with an average 0.5 point, down from the previous week when it averaged 3.36 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.86 percent.
  • The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.18 percent, with an average 0.4 point, down from the previous week when it averaged 3.19 percent. A year ago, the five-year adjustable-rate mortgage averaged 2.84 percent.