Residential
Real Estate News
After 4 Weeks U.S. Mortgage Rates Reverse Course, Move Lower

After 4 Weeks U.S. Mortgage Rates Reverse Course, Move Lower


According to Freddie Mac's latest Primary Mortgage Market Survey, U.S. mortgage rates moved lower for the first time in four weeks.
 
Sean Becketti, chief economist of Freddie Mac said, "The Federal Reserve's decision last week to maintain the current level of the Federal funds rate combined with the reduction in their forecast for growth triggered a 3-basis point drop in the 10-year Treasury yield. As a consequence, the 30-year mortgage rate declined 2 basis points to 3.71 percent. However, comments this week by several members of the Fed, including the presidents of the Richmond, San Francisco, and Atlanta banks, indicated that a June rate hike is still on the table."
 
Freddie Mac News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.71 percent with an average 0.5 point for the week ending March 24, 2016, down from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 3.69 percent.
  • 15-year FRM this week averaged 2.96 percent with an average 0.4 point, down from last week when it averaged 2.99 percent. A year ago at this time, the 15-year FRM averaged 2.97 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.89 percent this week with an average 0.5 point, down from last week when it averaged 2.93 percent. A year ago, the 5-year ARM averaged 2.92 percent.

Sponsored by

Comment with Facebook


Copyright 2010 - 2020 WORLD PROPERTY JOURNAL, INC. All Rights Reserved.

Join 34,000+ real estate professionals worldwide who receive our free weekly newsletter

GO
Advertisement
News Search
Go


Luxury Property Spotlight

Reader Poll

Advertisement
Global Listings Showcase
×
WORLD PROPERTY JOURNAL
 
Free Weekly Newsletter
 

Sign up now to receive the latest local & global real estate news in your inbox.

GO