Mortgage Rates Ring in New Year With a Dip
DAILY REAL ESTATE NEWS | FRIDAY, JANUARY 05, 2018
Borrowers kicked off 2018 with a mortgage rate drop. The 30-year fixed-rate mortgage is now down a quarter of a percentage point from a year ago.
“Treasury yields fell from a week ago, helping to drive mortgage rates down to start the year,” says Len Kiefer, Freddie Mac’s deputy chief economist. “The 30-year fixed-rate mortgage fell four basis points from a week ago to 3.95 percent in the year’s first survey. Despite increases in short-term interest rates, long-term interest rates remain subdued.”
The spread between the 30-year fixed-rate mortgage and five-year hybrid adjustable-rate mortgage is at the lowest since 2009, Kiefer says.
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