Uncertainty keeping mortgage rates low: Freddie Mac
Mortgage rates remained at their 2017 lows as ongoing economic uncertainty is affecting loan pricing, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.9%, down from last week when it averaged 3.91%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.56%.
"Following last week's sharp decline, the 10-year Treasury yield rose 3 basis points this week. The 30-year mortgage rate remained relatively flat. Mortgage rates are continuing to hold at year-to-date lows amidst ongoing economic uncertainty," said Sean Becketti, chief economist at Freddie Mac in a press release.
The 15-year fixed-rate mortgage averaged 3.17%, down from last week when it averaged 3.18%. A year ago at this time, the 15-year averaged 2.83%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.14%, down from last week when it averaged 3.15%. At this time last year, it averaged 2.74%.