AgentIndustry News

Weekly real estate rates fall

Hybrid adjustable loans capture Freddie Mac's attention

Long-term mortgage rates decreased this week, according to Freddie Mac's weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.77 percent for the week ended today, down from last week when it averaged 5.81 percent. The average for the 15-year fixed-rate mortgage is 5.21 percent, down from last week when it averaged 5.23 percent. Points on the 30-year averaged 0.7, while those on the 15-year averaged 0.6. Five-Year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.03 percent this week, with an average 0.5 points. One-year Treasury-indexed adjustable-rate mortgages averaged 4.1 percent this week, with an average 0.7 point, down from last week when they averaged 4.19 percent. "Economic news seems to reflect steady growth and low inflation, placing little upward pressure on interest rates," said Amy Crews Cutts, Freddie Mac deputy chief economist. "Although we expect mortgage rates will start to trend gently upward over the year, 30-y...

Comments