Average US 30-year mortgage rate slips to 4.02 percent

Xavier Trudeau
Mai 20, 2017

"The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week's survey".

Homeowners who thought they'd missed their opportunity to lock in a 30-year mortgage rate with a 3-handle on it, may be in luck. 30 year FHA fixed rate mortgage interest rates are published at 4.375% with a rather higher April of 5.417%.

This chart shows the movement of mortgaged rates over the past year. A year ago at this time, the 15-year FRM averaged 2.81 percent.

Interest rates for 30-year and 15-year fixed home loans, as well as 5/1 ARM rates, are all lower again today, according to a NerdWallet survey of current mortgage rates published by national lenders Thursday morning.

Purchase applications fell 3 percent for the week but remain 9 percent higher than one year ago.

Wednesday's selloff - the Dow took its biggest dive in eight months - took place after Freddie Mac polled lenders for this week's survey. Mortgage interest rates have been moving in a narrow field since their initial spike following the presidential election. The 10-year Treasury bond slipped near below 2.3% in overnight trading Tuesday. Mortgage rates are closely related to yields on long-term government bonds, which have been in high demand amid the turmoil in Washington.

Several benchmark refinance rates rose today.

30 year refinance loans at BB&T have been quoted at 4% today yielding an April of 4.083%. "This benefits the bond market (where mortgage interest rates are priced), as investors look for certainty and to avoid volatility". The seasonally adjusted purchase index decreased by 3% compared with the week ended May 5.

The refinance share of mortgage activity accounted for 41.1 percent of all applications, its lowest level since September 2008. ARM volume is now up 24 percent from a year ago.

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