Mortgage Rates Remain In Monthlong Slide Falling To Lowest Levels In 5 Months

Dated: April 25 2017

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Mortgage rates continued their monthlong swoon, sinking to their lowest levels in five months.

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According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 3.97 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.08 percent a week ago and 3.59 percent a year ago. The 30-year fixed rate hasn’t dipped below 4 percent since November.

The 15-year fixed-rate average dropped to 3.23 percent with an average 0.5 point. It was 3.34 percent a week ago and 2.85 percent a year ago. The five-year adjustable rate average fell to 3.1 percent with an average 0.4 point. It was 3.18 percent a week ago and 2.81 percent a year ago.

“Weak economic data and growing international tensions are driving investors out of riskier sectors and into Treasury securities,” Sean Becketti, Freddie Mac chief economist, said in a statement. “This shift in investment sentiment has propelled rates lower.”

Because of uncertainty surrounding the French elections and tensions in North Korea, investors are scooping up bonds. That’s driving yields lower. The yield on a 10-year Treasury sank to its lowest point since November on Tuesday, dropping to 2.18 percent. Because home loan rates tend to follow the same path as long-term bond yields, they also fell.

Bankrate.com, which puts out a weekly mortgage rate trend index, found that the experts it surveyed were almost evenly divided on where rates are headed in the coming week. Thirty-eight percent said they would fall, 38 percent said they would hold steady and 24 percent said they would rise. Michael Becker, branch manager at Sierra Pacific Mortgage, is one who predicts rates will remain relatively unchanged.

Denver Colorado Real Estate Professional -Michael Steffen

Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; Denver, Arvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!

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Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

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