Rates at 2017 Lows for 2 Consecutive Weeks
The Freddie Mac mortgage remained the same as the week prior at a level of 3.78% APR; for the second consecutive week of 2017 lows. APR still remains higher than it was a year ago when it was at a level of 3.50%, but the gap is shrinking on a yearly basis; it is only 28 basis points lower on a year on year basis than the current APR of 3.78%.
Attributed to Sean Becketti, chief economist, Freddie Mac.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week. The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey.”