30 Year Mortgage Rate Dips Down for Third Straigh Week
30-Year Mortgage Rate Dips Down for Third Straight Week
Mortgage rates keep treading down, with the average 30-year fixed mortgage rate dipping for the third week in a row toward the lowest it has been this year, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®).The 30-year fixed mortgage rate this week averaged 4.10 percent, while the 15-year fixed mortgage rate averaged 3.36 percent. The 5-year Treasury-indexed hybrid adjustable mortgage rate averaged 3.19 percent.
“The 10-year Treasury yield was relatively unchanged this week, while the 30-year mortgage rate fell four basis points to 4.1 percent,” said Sean Becketti, chief economist at Freddie Mac, in a statement on the survey. “After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low. Next week’s survey rate may be determined by Friday’s employment report and whether or not it can sustain the strength from earlier this year.”
Look for the lowest rates using Ann Arbor's best lenders by visiting www.LendAnnArbor.com for a list of the area's best mortgage brokers. The lenders are from many different companies and all have at least 15 years of experience and are either a vice president or branch manager.
Tom Stachler is one of Saline Michigan's leading real estate brokers and buyers agents with over 25 years of experience in the Ann Arbor and surrounding areas. Check out the MLS Listings link above for a list of thousands of real estate listings for sale in Michigan.
