Mortgage Rates Move Lower This Week

Dated: 03/08/2017

Views: 251

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.

Source: Freddie Mac


http://realtormag.realtor.org/daily-news/2017/03/03/mortgage-rates-move-lower-week

Want to Advertise on this Site?

Latest Blog Posts

What Is Going On In The Housing Market

Sept. 19,2020Hard to imagine we are almost finished with 2020! What a year this one has been. BUT the one thing that has remained to be strong and steady is the housing market. Especially here in

Read More

Trader Joes Coming To The Queen Creek Marketplace

The Kallhoff Team is super excited to announce that Trader Joe's is coming to the Queen Creek Marketplace. With the surrounding areas of Queen Creek and San Tan Valley growing, it is exciting to add

Read More

End Of Year 2018 Overview And What Is Going To Happen 2019

Wow can you believe 2018 is quickly coming to an end? The real estate market has been interesting this year in the East Valley. March thru July was insane with multiple offers, prices going up, and

Read More

Did You Know Home Warranties Are NOT Just For New Sales

Hello world,I know I have not been very good about blogging. BUT that is going to be changing, as well as we are (as a team) going to get better about videos to also share.  ANYWAYS........ I

Read More