Mortgage Rates Under 4% on Average

Mortgage rates on average moved lower this week. the 30 yr fixed mortgage is still below 4 percent. Mortgage rates are heavily affected by the 10 yr treasury yield which fell to a new low in 2017.

Freddie Mac reports the following national averages with mortgage rates for the most recent week through Aug. 31:

• 30-year fixed-rate mortgages: averaged 3.82 percent, with an average 0.5 point, falling from last week’s 3.86 percent average. Last year at this time, 30-year rates averaged 3.46 percent.
• 15-year fixed-rate mortgages: averaged 3.12 percent, with an average 0.5 point, falling from last week’s 3.16 percent average. A year ago, 15-year rates averaged 2.77 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 3.14 percent, with an average 0.5 point, also falling from last week’s 3.17 percent average. A year ago, 5-year ARMs averaged 2.83 percent.

Source: Freddie Mac, Realtor Magazine
Read full article at: http://realtormag.realtor.org/daily-news/2017/09/01/mortgage-rates-hit-new-yearly-lows?tp=i-H43-Bb-az-ZTZM-1p-9Znb-1c-Zfvg-Fyh7l&om_rid=8455148%20&Om_ntype=RMOdaily&om_mid=2293

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