Three-Peat: Mortgage Rates Dip Again

Mortgage rates dipped this week, marking a three week-streak of declines after sailing past 4 percent at the end of 2016. According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®), the 30-year fixed-rate mortgage averages 4.09 percent with an average 0.5 point, while the 15-year fixed-rate mortgage averages 3.34 percent with an average 0.5 point.

“After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI [Consumer Price Index] report,” says Sean Becketti, Freddie Mac’s chief economist. “In contrast, the 30-year mortgage rate fell three basis points to 4.09 percent, the third straight week of declines.”

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averages 3.21 percent with an average 0.4 point, according to the survey.

For more information, please visit www.freddiemac.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Three-Peat: Mortgage Rates Dip Again appeared first on RISMedia.