Mortgage Rates Hold Steady as Markets Remain Cautious

30-year mortgage increases one basis point

House key

Mortgage rates held steady this week, increasing only one basis point as the markets remained cautious.

“The 10-year Treasury yield was relatively flat this week, as was the 30-year mortgage rate which rose one basis point to 3.93%,” Freddie Mac Chief Economist Sean Becketti said.

Click to Enlarge

8-3-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage increased to 3.93% for the week ending Aug. 3, 2017. This is up one basis point from last week’s 3.92% and up from last year’s 3.43%.

However, the 15-year FRM decreased to 3.18%, down from last week’s 3.2%. This is still up from last year’s 2.74%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage also decreased, hitting 3.15%. This is down from 3.18% last week but up from 2.73% last year.

“Despite a strong advance estimate for second quarter GDP, markets are erring on the side of caution,” Becketti said.

Advertisements
This entry was posted in Financing, Home Buying, Home Selling, Homeownership, Market Conditions, Mortgage and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s