Thursday, 21 September, 2017

Average US 30-year mortgage rate slips to 4.02 percent

Average US 30-year mortgage rate slips to 4.02 percent Average US 30-year mortgage rate slips to 4.02 percent
Debra Rodriguez | 20 May, 2017, 01:37

30-year fixed-rate mortgage (FRM) averaged 4.02 percent with an average 0.5 point for the week ending May 18, 2017, down from last week when it averaged 4.05 percent. On Thursday, the benchmark 10-year Treasury yield fell to a one-month low at 2.18 percent as safety bids for USA government bonds grew on worries about a scandal around Brazilian President Michel Temer, spurring a rout in the Brazilian stock market. On Thursday, however, stocks were trading higher. "However, this week's survey closed prior to Wednesday's flight to quality".

10 year loan interest rates at the bank have been listed at 3.250% today yielding an April of 3.430%. The shorter term 15 year loan interest rates are on the books at 3.250% and an April of 3.374% today. Other key rates also fell marginally.

3 year ARM loans have been quoted at 3.000% and the April is 3.744%.

While the White House scandal was the catalyst for a measurable drop in the past couple days, mortgage rates had already moved a bit lower thanks to a slower than expected rise in consumer prices.

3 year Adjustable Rate Mortgages are 3.000% now with a starting April of 3.744%. As a result, many prospective homebuyers who can not come up with a 20 percent down payment are unable to get a loan. Interestingly, none of this week's respondents predict a rebound in mortgage rates in the next seven days. "The relative weakness in government application volume suggests that many potential first-time buyers remain on the sidelines due to the lack of entry-level homes on the market".

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