Mortgage interest rates fell after four consecutive weeks of holding steady, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 4.10% for the week ending Feb. 16,
The 15-year fixed-rate mortgage similarly dipped five basis points week over week to 3.32%. A year ago, the 15-year fixed-rate mortgage averaged 2.94%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage only dropped two basis points from the previous week to 3.14. At the same time in 2016, it averaged 2.84%.
"The 10-year Treasury yield remained relatively flat this week, while the 30-year mortgage rate fell 6 basis points," Freddie Mac chief economist Sean Becketti said in a news release. "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."
