Mortgage rates fell below three percent according to Freddie Mac. The average rate for a 30-year fixed rate mortgage dropped from 4.08 percent to 3.97 percent; the average rate for a 15-year fixed rate mortgage fell by nine basis point from 3.34 percent to 3.23 percent. The average rate for a 5/1 adjustable rate mortgage was eight basis points lower at 3.10 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for a 5/1 adjustable rate mortgage. Lower mortgage rates are good news for home buyers challenged by rapidly rising home prices based on high demand and low supplies of homes for sale.
What’s Ahead For Mortgage Rates This Week – April 17, 2017
Last week’s economic releases included readings on inflation, core inflation, new jobless claims, and mortgage rates. Consumer sentiment for April was also released.
What’s Ahead For Mortgage Rates This Week – April 10, 2017
Last week’s economic data included releases on construction spending and labor-related reports including ADP Payrolls, Non-Farm Payrolls, national unemployment. Weekly readings on mortgage rates and new jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – April 3, 2017
Last week’s economic news included Case-Shiller Home Price Index reports, pending home sales, and consumer confidence readings. Weekly readings on average mortgage rates and new jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – March 27, 2017
Last week’s economic news included releases on new and pre-owned home sales and weekly readings on average mortgage rates and new unemployment claims.
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