Mortgage Rates on the Decline Again

Jul 20, 2017

After two weeks of rising mortgage rates, Freddie Mac is reporting rates have taken a new tumble.

The 30-year fixed-rate mortgage (FRM) averaged 3.96 percent for the week ending July 20, down from last week when it averaged 4.03 percent. The 15-year FRM this week averaged 3.23 percent, down from last week when it averaged 3.29 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week, down from last week when it averaged 3.28 percent.

“Continued economic uncertainty and weak inflation data pushed rates lower this week,” complained Freddie Mac Chief Economist Sean Becketti, who also noted the 10-year Treasury yield fell five basis points this week.

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Phil Hall

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Jul 20, 2017

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