Mortgage Rates Retreat
Mortgage rates retreated from 4 percent this week, with the 30-year, fixed rate averaging 3.88 percent, down from 3.91 percent the week prior, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate averaged 3.19 percent, down from 3.21 percent the week prior, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.17 percent, up from 3.16 percent the week prior.
"Rates came down slightly this week, ending a brief two-week streak of increases," says Sean Becketti, chief economist at Freddie Mac. "The 10-year Treasury yield dipped six basis points, while the 30-year fixed mortgage rate fell three basis points to 3.88 percent." Source: Freddie Mac |
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