The Freddie Mac Primary Mortgage Market Survey posted its first mortgage rate decrease since the election after a nine-week rise. Sean Becketti, chief economist with Freddie Mac, said this marks the first time since 2014 that mortgage rates opened the year above 4 percent. Bankrate.com Chief Financial Analyst Greg McBride noted at the time that the week’s increase in mortgage rates was dubbed the ‘Trump Tantrum,’ the biggest one-week increase since the ‘Taper Tantrum’ in June 2013. In the two weeks after the election, the 30-year mortgage rate jumped 40 basis points, surging to 3.94 percent. Now, looking at the latest Freddie Mac report, the 30-year fixed-rate mortgage sits at 4.20 percent for the week ending Jan. 5, 2017, down from last week when it averaged 4.32 percent. However, this is still significantly higher than a year ago at this time when the 30-year FRM averaged 3.97 percent. The 15-year FRM this week averaged 3.44 percent, falling from last week’s 3.55 percent. In the year-ago period, the 15-year FRM averaged 3.26 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.33 percent this week, moving up from last week’s average of 3.30 percent. A year ago, the 5-year ARM averaged 3.09 percent.
Wednesday, May 3, 2017
Freddie Mac: 30-year Mortgage Rate Falls
Source: HousingWire
The Freddie Mac Primary Mortgage Market Survey posted its first mortgage rate decrease since the election after a nine-week rise. Sean Becketti, chief economist with Freddie Mac, said this marks the first time since 2014 that mortgage rates opened the year above 4 percent. Bankrate.com Chief Financial Analyst Greg McBride noted at the time that the week’s increase in mortgage rates was dubbed the ‘Trump Tantrum,’ the biggest one-week increase since the ‘Taper Tantrum’ in June 2013. In the two weeks after the election, the 30-year mortgage rate jumped 40 basis points, surging to 3.94 percent. Now, looking at the latest Freddie Mac report, the 30-year fixed-rate mortgage sits at 4.20 percent for the week ending Jan. 5, 2017, down from last week when it averaged 4.32 percent. However, this is still significantly higher than a year ago at this time when the 30-year FRM averaged 3.97 percent. The 15-year FRM this week averaged 3.44 percent, falling from last week’s 3.55 percent. In the year-ago period, the 15-year FRM averaged 3.26 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.33 percent this week, moving up from last week’s average of 3.30 percent. A year ago, the 5-year ARM averaged 3.09 percent.
The Freddie Mac Primary Mortgage Market Survey posted its first mortgage rate decrease since the election after a nine-week rise. Sean Becketti, chief economist with Freddie Mac, said this marks the first time since 2014 that mortgage rates opened the year above 4 percent. Bankrate.com Chief Financial Analyst Greg McBride noted at the time that the week’s increase in mortgage rates was dubbed the ‘Trump Tantrum,’ the biggest one-week increase since the ‘Taper Tantrum’ in June 2013. In the two weeks after the election, the 30-year mortgage rate jumped 40 basis points, surging to 3.94 percent. Now, looking at the latest Freddie Mac report, the 30-year fixed-rate mortgage sits at 4.20 percent for the week ending Jan. 5, 2017, down from last week when it averaged 4.32 percent. However, this is still significantly higher than a year ago at this time when the 30-year FRM averaged 3.97 percent. The 15-year FRM this week averaged 3.44 percent, falling from last week’s 3.55 percent. In the year-ago period, the 15-year FRM averaged 3.26 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.33 percent this week, moving up from last week’s average of 3.30 percent. A year ago, the 5-year ARM averaged 3.09 percent.
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