“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 Chief Economist Sean Becketti said.
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(Source: Freddie Mac)
The 30-year fixed rate mortgage dropped to 4.17% for the week ending February 9, 2017. This is down from last week’s 4.19% but still up from last year’s 3.65%.
The 15-year FRM followed suit, dropping to 3.39%, down from 3.41% last week but still up from last year’s 2.95%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage dropped from 3.23% last week to 3.21%. This is still up from last year’s 2.83%.
“The 30-year fixed mortgage fell two basis points to 4.17% this week,” Becketti said. “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.”