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.