Mortgage Rates Remain Stagnant at 2017 Lows

Sep 14, 2017

May’s home sales are at a pace that have not been seen over the past decade

Average mortgage rates were mostly unchanged from last week's year-to-date low, according to new data from Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.78 percent for the week ending Sept. 14, the same as last week, and the 15-year FRM this week averaged 3.08 percent, also the same as last week. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.13 percent this week, down from last week when it averaged 3.15 percent.

Sean Becketti, chief economist at Freddie Mac, forecast a sunnier near-future.

“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week,” he said. “If Treasury yields continue to rise, mortgage rates could see an increase in next week's survey.”

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Phil Hall

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Sep 14, 2017

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