Mortgage Rates Take a Slip

Mar 02, 2017

The Freddie Mac Primary Mortgage Market Survey (PMMS) has found average mortgage rates in a downward motion for the week ending March 2.

The 30-year fixed-rate mortgage (FRM) averaged 4.10 percent, down from last week when it averaged 4.16 percent, while the 15-year FRM this week averaged 3.32 percent, down from last week when it averaged 3.37 percent. The five-year Treasury-indexed hybrid adjustable-rate (ARM) mortgage averaged 3.14 percent, down from last week when it averaged 3.16 percent.

"The 10-year Treasury yield remained relatively flat this week, while the 30-year mortgage rate fell six basis points to 4.1 percent," said Sean Becketti, chief economist, Freddie Mac. "Since the beginning of the year, the 10-year Treasury yield has covered a 22 basis point range. The range of movement for the 30-year has been half that, just 11 basis points."

About the author

Phil Hall

Link copied

Published

Mar 02, 2017

Analysis and Data

It's A Buyers' Market In Texas And Florida

Redfin says sellers are cutting their asking prices in Florida and Texas.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...