The Freddie Mac mortgage rate decreased in APR for the fourth consecutive decline dropping down to an APR of 3.86%, decreasing by 3 basis points, for a new year to date low; and the lowest rate since November 10, 2016, back when the presidential election took place. APR still remains higher than it was a year ago when it was at a level of 3.43%, but the gap between APR rates from this year to last year are closing in, as the APR this year is about 43 basis points higher than this time last year.
Attributed to Sean Becketti, chief economist, Freddie Mac.
“The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation. The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.”