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Fixed Mortgage Rates in U.S. Continue to Dip, Setting New Low for 2017

Fixed Mortgage Rates in U.S. Continue to Dip, Setting New Low for 2017

Residential News » Washington D.C. Edition | By Monsef Rachid | June 2, 2017 8:00 AM ET



According to Freddie Mac's latest May 2017 Primary Mortgage Market Survey, the 30-year fixed mortgage rate inched lower for the third consecutive week and setting a new low for the year.
 
Sean Becketti, chief economist of Freddie Mac said, "In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points. The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.94 percent and once again hitting a new 2017 low."
 
Freddie Mac News Facts:

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending June 1, 2017, down from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 3.66 percent.
  • 15-year FRM this week averaged 3.19 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.92 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11 percent this week with an average 0.5 point, up from last week when it averaged 3.07 percent. A year ago at this time, the 5-year ARM averaged 2.88 percent.
 

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