Friday Rate Update

Freddie Mac: Mortgage Rates Decreased in Anticipation of Fed's Decision

Freddie Mac reported on Sept. 22 that mortgage rates fell again in anticipation of the results of the Federal Open Market Committee's meeting. "The 10-year Treasury yield declined after last week's post-Brexit high in anticipation of the [Federal Reserve's] September policy meeting," said Freddie Mac chief economist Sean Becketti. "The 30-year fixed-rate mortgage followed Treasury yields, falling two basis points and settling at 3.48 percent." This is down from 3.5 percent last week and 3.86 percent a year ago. Meanwhile, the 15-year fixed-rate mortgage dropped to 2.76 percent, down from 2.77 percent a week ago and 3.08 percent a year ago, and the five-year Treasury-indexed hybrid adjustable-rate mortgage slipped to 2.8 percent, down from 2.82 percent last week and 2.91 percent last year.

From "Freddie Mac: Mortgage Rates Decreased in Anticipation of Fed's Decision"
HousingWire (09/22/16) Ramírez, Kelsey