ABBA First Mortgage News

A little rate stability after much volatility

Rates were stable in the past week.  For the week ending August 3, Freddie Mac announced that 30-year fixed rates rose slightly to 3.93% from 3.92% the week before.  The average for 15-year loans decreased to 3.18%, and the average for five-year adjustables moved down to 3.15%.  A year ago, 30-year fixed rates averaged 3.43%.  Attributed to Sean Becketti, chief economist, Freddie Mac — “The 10-year Treasury yield was relatively flat this week, as was the rate on 30-year fixed loans, which rose 1 basis point to 3.93 percent. Despite a strong advance estimate for second quarter GDP, markets are erring on the side of caution.”

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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