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3.65: Mortgage Rates Don’t Budge

by UrbanTurf Staff

3.65: Mortgage Rates Don't Budge: Figure 1

The average rate on a 30-year fixed-rate mortgage was 3.65 percent this week, Freddie Mac reported on Thursday, a rate that has not budged since last week.

“After another week of financial market oscillations driven by rumors of potential limits on oil production, the 10-year Treasury yield edged up 5 basis points, and the 30-year mortgage rate remained unchanged at 3.65 percent,” Freddie Mac’s Sean Becketti said in a release. “Despite this week’s uptick in Treasury yields, the 10-year is still 54 basis points lower than it stood at the end of 2015, while the mortgage rate has dropped only 36 basis points over the same period.”

UrbanTurf has been following the trajectory of rates since 2010:

3.65: Mortgage Rates Don't Budge: Figure 2

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

This article originally published at https://dc.urbanturf.com/articles/blog/3.65_mortgage_rates_dont_budge/10889

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