Mortgage rates hit new low for 2017

Freddie Mac says average fees remained the same for 30- and 15-year loans

TRD NEW YORK /
Apr.April 14, 2017 09:12 AM

Homebuyers sitting on the sidelines may want to think about getting in the game, with U.S. mortgage rates falling for the fourth week in a row and reaching a new low for the year.

The benchmark 30-year rate dropped to 4.08 percent this week from 4.10 percent, according to mortgage buyer Freddie Mac. The rate is below the prior low of 4.09 percent during the week of January 19, the Associated Press reported.  It’s still higher than last year, which averaged 3.65 percent, the lowest since 1971.

As for 15-year mortgages, rates slid to 3.34 percent this from 3.36 percent.

According to Freddie Mac, the average fee for both 30-year and 15-year mortgages held steady at 0.5 point.

Long-term mortgage rates are impacted by bond yields, which tumbled last week on the heels of the March jobs report. Employers added 98,000 jobs in March, compared to an average of 178,000 a month over the past three months, according to U.S. jobs data.

Low investor confidence boosted prices for bonds and caused yields on 10-year Treasury notes to drop to 2.24 percent on Wednesday from 2.23 percent the week before. [AP] — E.B. Solomont


Related Articles

arrow_forward_ios
Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

From left: 515 Park Avennue, Soori High Line, One Beacon Court, 53 East 67th Street and 15 Hudson Yards (Photos via Douglas Elliman, Compass, StreetEasy, Hudson Yards, Apartments)

Priciest homes to hit market include an UES building prime for mansion conversion

166 E. 81st St. (Credit: Google Maps, iStock)

UES townhouse once described as “infested with vermin” goes into contract

The 30-year fixed-rate average fell to 3.45 percent (Credit: iStock)

US mortgage rates hit 3-year low

arrow_forward_ios
Loading...