Freddie Mac: 30-year mortgage rate holds steady

A Tale of Two Rates

This week, the 30-year fixed rate mortgage barely moved, however the 10-year Treasury yield rebounded sharply, according to Freddie Mac’s Primary Mortgage Market Survey released today.

“We describe the last few weeks as A Tale of Two Rates,” Freddie Mac Chief Economist Sean Becketti said. “Immediately following the Brexit vote, U.S. Treasury yields plummeted to all-time lows.”

“This week, markets stabilized and the 10-year Treasury yield rebounded sharply,” Becketti said. “In contrast, the 30-year mortgage rate declined after the Brexit vote, but only by half as much as the 10-year Treasury yield.”

Click to Enlarge


(Source: Freddie Mac)

The 30-year fixed-rate mortgage averaged 3.42% for the week ending in July 14, 2016, a slight increase from last week’s 3.41%. It is still down from last year’s 4.09%.

The 15-year FRM averaged 2.72%, a decrease from last week’s 2.74%, and from 3.25% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.76% this week, an increase from last week’s 2.68%, but a decrease from last year’s 2.96%.

“This week, the 30-year fixed rate barely budged, rising just one basis point to 3.42%,” Becketti said. “This pattern suggests that mortgage rates are likely to remain low throughout the summer.”

Most Popular Articles

Airbnb properties wouldn’t make a dent in housing market

While the real estate market has lots of challenges during the COVID-19 pandemic, a tsunami of houses being sold by Airbnb hosts who can’t pay their mortgages isn’t one of them. HW+ Premium Content

Jun 02, 2020 By

Latest Articles

FHA enacts temporary policy shift on forbearances

HUD Secretary Ben Carson said the policy change “will give borrowers, lenders, and the market peace of mind as we continue our road to economic recovery in the United States.”

Jun 05, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please