According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. mortgage rate did not deviating from the previous week.
Sean Becketti, chief economist at Freddie Mac, "The 10-year Treasury yield was relatively flat this week, as was the 30-year mortgage rate which rose 1 basis point to 3.93 percent. Despite a strong advance estimate for second quarter GDP, markets are erring on the side of caution."
Freddie Mac News Facts
30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.5 point for the week ending August 3, 2017, up from last week when it averaged 3.92 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.
15-year FRM this week averaged 3.18 percent with an average 0.5 point, down from last week when it averaged 3.20 percent. A year ago at this time, the 15-year FRM averaged 2.74 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.15 percent this week with an average 0.5 point, down from last week when it averaged 3.18 percent. A year ago at this time, the 5-year ARM averaged 2.73 percent.
According to the National Association of Realtors, after declining for three straight months, U.S. pending home sales reversed course in June 2017 as all major regions, except for the Midwest, saw an increase in contract activity.
According to Freddie Mac's latest Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage making its biggest jump since March 2017. Global interest rates turned up sharply over the last week. The 10-year Treasury yield was no exception.