Mortgage rates are hovering around this year’s lows as the 30-year mortgage dropped slightly and the Treasury yield increased.
“Following last week’s sharp decline, the 10-year Treasury yield rose three basis points this week,” Freddie Mac Chief Economist Sean Becketti said. “The 30-year mortgage rate remained relatively flat, falling one basis point to 3.9%.”
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(Source: Freddie Mac)
The 30-year fixed-rate mortgage dropped slightly to 3.9% for the week ending June 22, 2017. This is down from last week’s 3.91% but up from last year’s 3.56%.
The 15-year FRM also decreased, dropping from last week’s 3.18% to 3.17% this week. This is still up from last year’s 2.83%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage dropped slightly to 3.14%. This is down from last week’s 3.15% but up from last year’s 2.74%.
“Mortgage rates are continuing to hold at year-to-date lows amidst ongoing economic uncertainty,” Becketti said.
