Mortgage Rates: How Low Will They Go?
Mortgage Rates: How Low Will They Go?
How low will they go? Mortgage rates limboed down again this week, with the 30-year, fixed rate—3.88 percent—marking a new low for 2017, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). Both the 15-year, fixed rate and the 5-year, Treasury-indexed hybrid adjustable rate moved down to 3.17 percent.
“The 30-year mortgage rate fell two basis points to 3.88 percent this week,” says Sean Becketti, chief economist at Freddie Mac. “However, the majority of our survey was conducted prior to Tuesday’s sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week’s survey if Treasury yields continue to rise.”
Tom Stachler is one of the Ann Arbor and Saline Michigan's leading real estate brokers 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.
