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Mortgage Rates Ticking Back Up

Freddie Mac is reporting that after several weeks of a
downward decline in interest rates they are back on the rise.
mortgage rates ticking back up
Courtesy of Freddie Mac
The graph above shows how the trend had been dipping over
the last five weeks. Here are some facts from Freddie Mac.
30-year fixed
– week ending April 27, 2017 average 4.03% with 0.5 average points which is up
from just last week at 3.97%. A year ago the rate was 3.66%.
15-year fixed
– week ending April 27th this rate was also up a bit at 3.27% with 0.4 average
points. Last week it was 3.23%. A year ago the rate was 2.89%.
5-year ARM
these have taken the hit also coming in at 3.12% with 0.4 average points. Up
from 3.10% last week and 2.86% a year ago.
Mortgage Rates Ticking Back Up
Freddie Mac’s Chief Economist, Sean Beckitti states that the 30-year mortgage rate is keeping pace
with the Treasury yields. When the treasury yield rose 10 basis points the
mortgage rate rose 6 basis points. In spite of this, March 2017 existing and
new home sales exceeded expectations. The Case-Shiller Home Price Index also
posted some solid gains.
I also came across an article talking about home sellers
pocketing more money during the first quarter of this year. If you are
interested in getting your home priced, I am your Realtor! Due to the squeeze
in inventory and there being fewer options on the market, the high demand is
causing significant rises in home values. People like to call it a “Seller’s Market.”
I would like to say it’s a smart market for home sellers. Buyers are dropping
some of their contingencies and upping their down payments just to compete. So
if you are looking to make a move, up or down or to another state, now is the
For notice on events each day LIKE our Facebook page @VictoriaCottlesCorner.
And remember if you, a friend or family member need
assistance with selling or buying a home
I can help
. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

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