How low will they go? Mortgage rates limboed down again this week, with the 30-year, fixed rate—3.88 percent—marking a new low for 2017, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). Both the 15-year, fixed rate and the 5-year, Treasury-indexed hybrid adjustable rate moved down to 3.17 percent.
“The 30-year mortgage rate fell two basis points to 3.88 percent this week,” says Sean Becketti, chief economist at Freddie Mac. “However, the majority of our survey was conducted prior to Tuesday’s sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week’s survey if Treasury yields continue to rise.”
Source: Freddie Mac
For the latest real estate news and trends, bookmark RISMedia.com.