Mortgage Rates Again Below Four Percent to Start New Year.

Global equity sell off heightens market unease.

Treasury bond yields fell as investors seek shelter. Mortgage rates followed suit.

A thousand raindrops. Umbrella. Wind. Rain.Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) for the week ending January 7, 2016, showing mortgage rates mixed with the 30-year fixed-rate falling back below four percent to start the year.

INTERESTing Facts:

  • 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending January 7, 2016, down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM averaged 3.73 percent.
  • 15-year FRM this week averaged 3.26 percent with an average 0.5 point, up from 3.24 percent last week. A year ago at this time, the 15-year FRM averaged 3.05 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent this week with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago, the 5-year ARM averaged 2.98 percent.

Sean Becketti, chief economist, Freddie Mac:

“Concerns about overseas economic developments have dominated financial markets to start the year. U.S. Treasury bond yields fell amidst a global equity selloff and flight to safety. In response, the 30-year mortgage rate dipped 4 basis points to 3.97 percent.”

Read full article here.

photo credit: A Thousand Raindrops


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