Freddie Mac: Mortgage Rates Remain Mostly Unchanged

Posted by Lauren Tyler on August 03, 2017 No Comments
Categories : Residential Mortgage

Mortgage rates held steady for the week ending Aug. 3, with the average rate for a 30-year fixed-rate mortgage (FRM) averaging 3.93%, up just slightly from the week prior when it averaged 3.92%, according to Freddie Mac’s Primary Mortgage Market Survey.

A year ago at this time, the 30-year FRM averaged 3.43%.

The average rate for a 15-year FRM was 3.18%, down from 3.20% the previous week. A year ago at this time, the 15-year FRM averaged 2.74%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.15%, down from 3.18% the previous week. A year ago at this time, the five-year ARM averaged 2.73%.

“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,” says Sean Becketti, chief economist for Freddie Mac. “Despite a strong advance estimate for second quarter GDP, markets are erring on the side of caution.”

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