Industry News

Mortgage Rates Drop Again

Jul 27, 2017
The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3, 2020 has found that mortgage applications decreased 17.9 percent from one week earlier

Mortgage rates took a tumble for the second week in a row, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending July 27.
 
The 30-year fixed-rate mortgage (FRM) averaged 3.92 percent, down from last week when it averaged 3.96 percent. The 15-year FRM this week averaged 3.20 percent, down from last week when it averaged 3.23 percent. And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent, down from last week when it averaged 3.21 percent.
 
Sean Becketti, chief economist at Freddie Mac, predicted, “Mortgage rates in next week's survey would depend on how the market reacts to the Fed's balance sheet unwinding announcement.”
Mortgage Rates Drop Again
 
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Phil Hall
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Jul 27, 2017
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