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Mortgage Rates in U.S. Drop to Lowest Levels of 2017 in May

Mortgage Rates in U.S. Drop to Lowest Levels of 2017 in May

Residential News » New York City Edition | By Monsef Rachid | May 26, 2017 8:00 AM ET



According to Freddie Mac's latest Primary Mortgage Market Survey, the average mortgage rates hitting their lowest mark of the year in Mid-May 2017.
 
Sean Becketti, chief economist of Freddie Mac said, "As we predicted, the 30-year mortgage rate fell 7 basis points this week in a delayed reaction to last week's sharp drop in Treasury yields. The survey rate stands at 3.95 percent today, a new low for the year."
 
Freddie Mac News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.5 point for the week ending May 25, 2017, down from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.64 percent.
  • 15-year FRM this week averaged 3.19 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.89 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, down from last week when it averaged 3.13 percent. A year ago at this time, the 5-year ARM averaged 2.87 percent.


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