Mortgage Rates in Holding Pattern
/EINPresswire.com/ -- MCLEAN, VA--(Marketwired - Feb 9, 2017) - Freddie Mac (
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.4 point for the week ending Feb. 9, 2017, down from last week when it averaged 4.19 percent. A year ago at this time, the 30-year FRM averaged 3.65 percent.
- 15-year FRM this week averaged 3.39 percent with an average 0.4 point, down from last week when it averaged 3.41 percent. A year ago at this time, the 15-year FRM averaged 2.95 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.4 point, down from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.83 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
"The 30-year fixed mortgage fell two basis points to 4.17 percent this week. Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday's jobs report and uncertainty about the Administration's fiscal policies have contributed to the holding pattern in rates."
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3107918
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
