Freddie Mac: Mixed economic reports hold average mortgage rate at 4% mark

Mortgage rates increase slightly

Mortgage rates held relatively steady, holding close to the 4% mark after a week of mixed economic news.

“Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4% mark,” Freddie Mac Chief Economist Sean Becketti said.

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(Source: Freddie Mac)

The 30-year fixed rate mortgage increased slightly to 4.05% for the week ending May 11, 2017. This is up slightly from last week’s 4.02% and from last year’s 3.57%.

The 15-year FRM also increased slightly to 3.29%, up from 3.27% last week and 2.81% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage moved even less to 3.14%, up from 3.13% last week and 2.78% last year.

“The 10-year Treasury yield jumped eight basis points this week while the 30-year mortgage rate rose three basis points to 4.05%,” Becketti said.

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