Freddie Mac's latest Primary Mortgage Market Survey for the first week of May 2017 is reporting the 30-year mortgage rate is still hovering around 4 percent for the fourth consecutive week.
Sean Becketti, chief economist of Freddie Mac says, "The 10-year Treasury yield jumped 8 basis points this week while the 30-year mortgage rate rose 3 basis points to 4.05 percent. Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4 percent mark."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 4.05 percent with an average 0.5 point for the week ending May 11, 2017, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
15-year FRM this week averaged 3.29 percent with an average 0.5 point, up from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.
According to a new report by Zillow, U.S. median home values are reaching new peaks in more than half of the nation's largest housing markets, but a closer look at which homes are regaining value reveals an uneven recovery in the biggest markets.
According to a new report by Redfin, for every dollar of home equity single men earned over five years in the U.S., single women earned just 92 cents. Redfin looked at 199,387 homes sold in 18 of the largest metros in 2012.
According to the June 2017 Zillow Real Estate Market Report, the typical U.S. home is worth over $200,000 for the first time ever. The national median home value is now $200,400, up about 7 and a half percent since this time last year.