Mortgage rates dropped for the third week in a row after rising significantly after President-elect Donald Trump won the election, however, the 10-year Treasury did see an increase.
“After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report,” Freddie Mac Chief Economist Sean Becketti said.
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage decreased yet again to 4.09% for the week ending Jan. 19, 2017. This is down from last week’s 4.12% but still up from last year’s 3.81%.
The 15-year FRM decreased from last week’s 3.37% to 3.34% this week. This is still up from last year’s 3.1%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage decreased to 3.21%, down from 3.23% last week but up from last year’s 2.91%.
“In contrast, the 30-year mortgage rate fell three basis points to 4.09%, the third straight week of declines,” Becketti said.