Thirty-Year Mortgage Rate Falls Below Four Percent
April 20, 2017
The 30-year mortgage rate dropped below four percent and hit its lowest level since November 2016, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 20.
The 30-year fixed-rate mortgage (FRM) averaged 3.97 percent, down from last week when it averaged 4.08 percent. The 15-year FRM this week averaged 3.23 percent, down from last week when it averaged 3.34 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10 percent this week, down from last week when it averaged 3.18 percent.
Sean Becketti, chief economist at Freddie Mac, blamed the disappointing data on “weak economic data and growing international tensions [that] are driving investors out of riskier sectors and into Treasury securities. This shift in investment sentiment has propelled rates lower.”
FMJ Job Listings
- MPF Program Supervisor - FHLBank Pittsburgh - Pittsburgh, PA
- Vice President of Finance - Municipal Employees Credit Union of Baltimore - Baltimore, MD
- Investment Analyst - Commercial Real Estate Finance - NorthMarq Capital - Raleigh, NC
- Home Loan Operations Manager - AAA Michigan/The Auto Club Group - Dearborn, Michigan
- Internal Audit - Citywide Home Loans - Denver, CO
- Salesforce Administrator / Non-Technical Project Manager III - Fannie Mae - Washington, DC