Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Mortgage Rates Move Up for First Time in 2017

Posted by Mastura Zaini-Roberts on Tuesday, January 31st, 2017 at 2:06pm.

 

Following several weeks of decreases, mortgage rates were back on the rise this week.

"The 10-year Treasury yield increased more than 10 basis points this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved up as well to 4.19 percent, a 10 basis point jump. This week marks the first increase in the mortgage rate since December 29. The 2.8 percent decline in existing home sales in December is a reminder of the lack of homes for sale. According to the National Association of REALTORS®, supply is at its lowest level since 1999, a factor that should support higher house prices regardless of the oscillations of the mortgage rate."

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 26:

  • 30-year fixed-rate mortgages: averaged 4.19 percent, with an average 0.4 point, rising from last week’s 4.09 percent average. Last year at this time, 30-year rates averaged 3.79 percent.
  • 15-year fixed-rate mortgages: averaged 3.40 percent, with an average 0.4 point, rising from last week’s 3.34 percent average. A year ago, 15-year rates averaged 3.07 percent.
  • 5-year ARMs: averaged 3.20 percent this week, with an average 0.4 point, dropping from last week’s 3.21 percent average. A year ago, 5-year ARMs averaged 2.90 percent.

 

article and graphic courtesy of DAILY REAL ESTATE NEWS and Freddie Mac and Realtor Magazine

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

15 and 30 Year Home Loan Rates

Gross Domestic Product, the broadest measure of economic activity, climbed to a more normal 3.1 percent in the second quarter, up from 1.2 percent in the first quarter. Home loan rates bounced around due to tensions with North Korea, debt ceiling debates and devastating hurricanes, but they remained just above all-tim...

Do You Need a Home Warranty? A Look at the Pros and Cons

We all like having additional peace of mind when it comes to the systems and appliances in our homes. Things inevitably break down over time, but most of us don't plan for the furnace to die mid-winter or for the dishwasher to suddenly implode. A home warranty can offer some financial protection for those unexpected...

Nevada Infrastructure: Keeping Up with a Growing State

According to the U.S. Census Bureau, Nevada’s 1.95 percent population growth rate from July 2015 to July 2016 made it the second fastest-growing state in the country. With the state’s official population nearing the three million mark, how is infrastructure keeping up with growth? Major Road P...

“But my Zestimate is higher than that”: 11 Things Sellers Should Know About Zillow's "Zestimate" calculations

Key Takeaways         Zestimates do not take the finishes or updates into account -- the insides of the properties.         Agents should describe to sellers how the Zestimate is calculated, and they can use the explanations on Zillow's own...

Things To Do In Las Vegas -- Dec 22 - Jan 4

   ...

Leave a Comment

Have a Question?

Contact Us

Follow Us