Mortgage rates broke a monthlong holding pattern and inched lower this week.
"The 10-year Treasury yield remained relatively flat this week, while the 30-year mortgage rate fell 6 basis points to 4.1 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Since the beginning of the year, the 10-year Treasury yield has covered a 22 basis point range. The range of movement for the 30-year has been half that, just 11 basis points."
Freddie Mac reports the following national averages with mortgage rates for the week ending March 2:
30-year fixed-rate mortgages:averaged 4.10 percent, with an average 0.5 point, dropping from last week’s 4.16 percent average. A year ago, 30-year rates averaged 3.64 percent.
15-year fixed-rate mortgages:averaged 3.32 percent, with an average 0.5 point, falling from last week’s 3.37 percent average. Last year at this time, 15-year rates averaged 2.94 percent.
5-year hybrid adjustable-rate mortgages:averaged 3.14 percent, with an average 0.4 point, falling from last week’s 3.16 percent average. A year ago, 5-year ARMs averaged 2.84 percent.
The Team with experts in this local area, We bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. We are eager to serve you.
The Kallhoff Team is super excited to announce that Trader Joe's is co
"I trusted Kelly Teahon with her expertise on home sales and she did not disappoint! She helped secure a house in Arizona while I was waiting on the sale of my house in Oregon. All of our communication was via phone and email and all documents were signed electronically. It was great not having to worry about being so many miles away as I could trust Kelly to take care of everything on her side."