Mortgage Rates Hover Near Three-Year Lows

• May 19, 2016
• 1 Comment

by UrbanTurf Staff

Long-term mortgage rates didn’t budge much from last week, and still hover near levels not seen in three years.

The average rate on a 30-year fixed-rate mortgage was 3.58 percent this week, according to Freddie Mac, up just slightly from 3.57 percent last week.

“The 10-year Treasury yield saw minimal movement over the past week, despite encouraging news from April’s consumer spending and CPI data,” Freddie Mac’s Sean Becketti said. “Although there was minimal change in rates this week, the hawkish tone of Wednesday’s Fed minutes release had an immediate impact on Treasury yields, and could possibly shake up next week’s survey results.”

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 http://dc.urbanturf.com/articles/blog/mortgage_rates_hover_near_three-year_lows/11255

1 Comment

1. JPDownsMortgage said at 7:56 pm on Thursday May 19, 2016:
   If only this Freddie Mac rate was real time...there was a nasty move in mortgage rates the last few days as a result of the Fed meeting which is not shown in this survey.