Friday Rate Update

Mortgage Rates Barely Budge as Risk Appetite Remains Low

Freddie Mac reported on July 14 that the average 30-year fixed-rate mortgage rose to 3.42 percent, up one basis point from the previous week and 11 basis points from the all-time low set in 2012. Meanwhile, the average 15-year fixed-rate mortgage was 2.72 percent, down from 2.74 percent the previous week, and the average five-year hybrid adjustable-rate mortgage was 2.76 percent, up from 2.68 percent. Freddie Mac indicated that mortgage rates did not fall as much as Treasury yields after the Brexit vote and have not bounced back as much since then, and "this pattern suggests that mortgage rates are likely to remain low throughout the summer."

From "Mortgage Rates Barely Budge as Risk Appetite Remains Low"
MarketWatch (07/14/16) Riquier, Andrea