Mortgage

Freddie Mac: Mortgage rates quiet after tepid GDP estimate

Treasury yield fell 5 basis points

Mortgage rates halted after the gross domestic product estimate showed a slow-down in the fourth quarter.

“The 10-year Treasury yield fell five basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed’s decision to leave rates unchanged,” Freddie Mac Chief Economist Sean Becketti said.

Click to Enlarge

2-2-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage remained flat at 4.19% for the week ending February 2, 2017. While this is unchanged from last week, it is up from last year’s 3.72%.

The 15-year FRM increased only slightly from last week’s 3.4% to 3.41% this week. This is up from 3.01% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.23% this week, up from last week’s 3.2% and last year’s 2.85%.

The 30-year mortgage rate remained flat at 4.19%, starting the month 47 basis points higher than this time last year,” Becketti said. “Despite the uncertainty in the market, the pending home sales index increased 1.6% in December, up from a decline of 2.5% the month prior.”

Latest Articles

[PULSE] How to manage rental properties during a global crisis

As the current U.S. unemployment rate hovers above Great Depression-Era levels, many property owners are having rent delinquency, leasing and management issues. So, what can an investor do during the current economic situation to protect their asset?

Jul 02, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please