Freddie Mac’s (OTCQB: FMCC) Primary Mortgage Market Survey out Thursday reported that mortgage rates moderated after rising in April.
Said Sam Khater, Freddie Mac’s chief economist, “Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease. A combination of low mortgage rates, a strong job market and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring.”
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending May 9, 2019, down from last week when it averaged 4.14%. A year ago at this time, the 30-year FRM averaged 4.55%.
- 15-year FRM this week averaged 3.57% with an average 0.4 point, down from last week when it averaged 3.60%. A year ago at this time, the 15-year FRM averaged 4.01%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63% with an average 0.4 point, down from last week when it averaged 3.68%. A year ago at this time, the 5-year ARM averaged 3.77%.
