Continuing its new pattern, the 30-year mortgage rate continues to stray from the Treasury yield amid rising market uncertainty.
This week’s survey once again displays the disconnect between mortgage rates and Treasury yields, a result of continued uncertainty,” Freddie Mac Chief Economist Sean Becketti said.
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage increased slightly to 4.16% for the week ending February 23, 2017. This is up from last week’s 4.15% and from last year’s 3.62%.
The 15-year FRM also increased slightly to 3.37%, up from last week’s 3.35% and from last year’s 2.93%.
However, the five-year Treasury-indexed hybrid adjustable-rate mortgage decreased slightly to 3.16%, down from last week’s 3.18% but still up from last year’s 2.79%.
“In a short week following Presidents Day, the 10-year Treasury yield fell about eight basis points,” Becketti said. “However, the 30-year mortgage rate rose one basis point to 4.16%.”