Freddie Mac: Mortgage rates increase after weeks of declines
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Sam Khater, Freddie Mac’s chief economist, says after a rapid increase throughout most of the spring, mortgage rates have now declined in five of the past six weeks. "The run-up in mortgage rates earlier this year represented not just a rise in risk-free borrowing costs, but for investors, the mortgage spread also rose back to more normal levels by about 20 basis points," he said.
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After posting their biggest drop in a decade last week, mortgage rates remain at multi-month lows-and borrowers are rushing to take advantage.The 30-year fixed-rate mortgage averaged 4.08 percent this week, freddie mac reports in its weekly mortgage market survey.
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According to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS), the average U.S. mortgage rate rose for the first time in five weeks in late April 2017. Sean Becketti, chief economist at Freddie Mac said, "The 10-year Treasury yield rose about 10 basis points this week.
Mortgage rates bounced off YTD lows in the latest Freddie Mac weekly survey, the first increase after five weeks of declines. The 30-year fixed-rate mortgage averaged 3.91%, up from last week’s 3.
Mortgage rates have risen for nine weeks in a row, according to the results of Freddie Mac's primary mortgage market survey (pmms).. The 15-year FRM for the week averaged at 3.90 percent, with a 0.5 point average, Seeing declines in the stock market can lead to increases in the bond market and.
Under this scenario, mortgage rates are expected to increase by 238 basis points, with a 49 percent drop in mortgage origination volume, a 14 percent decrease in home sales, and a 32 percent decline in housing starts. The specifics of when and by how much mortgage rates move in the near future are still uncertain.
Freddie Mac: Mortgage rates increase after weeks of declines Freddie Mac: Mortgage rates drop after week of mixed economics reports Kelsey Ramrez is an Associate Editor at HousingWire.
After weeks of decline, the 30-year fixed rate mortgage averaged 3.84% for the week ending June 20, which is a slight increase from last week’s 3.82%. The rate last year was 4.57%.
Despite the onset of colder weather, a faction of home buyers and seller remain in the market. And despite a recent climb, U.S. mortgage rates are still historically low, according to Freddie Mac.