Mortgage rates were mostly in a holding pattern this week, which may have been welcome news to borrowers after last week’s uptick.
“The 10-year Treasury yield remained relatively flat this week, as did the 30-year mortgage rate, which fell 1 basis point to 4.02 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Markets have been erring on the side of caution following a weak advance estimate for first-quarter GDP and the FOMC’s broadly expected decision to leave rates unchanged.”
Freddie Mac reports the following national averages with mortgage rates for the week ending May 4:
30-year fixed-rate mortgagesaveraged 4.02 percent, with an average 0.5 point, falling slightly from last week’s 4.03 percent average. Last year at this time, 30-year rates averaged 3.61 percent.
15-year fixed-rate mortgagesaveraged 3.27 percent, with an average 0.5 point, the same average as last week. A year ago, 15-year rates averaged 2.86 percent.
5-year hybrid adjustable-rate mortgagesaveraged 3.13 percent, with an average 0.5 point, rising from last week’s 3.12 percent average. A year ago, 5-year ARMs averaged 2.80 percent.
Author:Scott Valentine Phone: 908-845-5525 Dated: May 5th 2017 Views: 215 About Scott: ...
At Culture Estate our name says it all. It's our agents and staff that make us unique and special. We handle every client with intense care and diligence. Let us make your home buying or selling experience an enjoyable one.
Anyone that has been investing in real estate for the past two yea
" Luis has exceeded all expectations of what a real estate agent should offer. His transparent answers and Honestly helped us to make experienced decisions. His knowledge coupled with his candor provided us with a knowledgeable source that we were comfortable to go to regardless if the question or circumstance. I would strongly recommend him as a real estate agent to anyone who is serious in buying a home wants to do things the correct way."