U.S. Mortgage Rates Hit New 2017 Low

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According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed mortgage rate in the U.S. dropped to its lowest mark since November 10, 2016.

Freddie Mac News Facts:

  • 30-year fixed-rate mortgage (FRM) averaged 3.86 percent with an average 0.5 point for the week ending August 24, 2017, down from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.
  • 15-year FRM this week averaged 3.16 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74 percent.

 

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 5-year ARM averaged 2.75 percent.

 

 

Chief economist at Freddie Mac said;

“The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation. The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.”

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