ABBA First Mortgage News

Check out rates

Rates moved lower for the second week in a row.  For the week ending July 27, Freddie Mac announced that 30-year fixed rates fell to 3.92% from 3.96% the week before.  The average for 15-year loans decreased to 3.20%, and the average for five-year adjustables moved down to 3.21%.  A year ago, 30-year fixed rates averaged 3.48%.  Attributed to Sean Becketti, chief economist, Freddie Mac — “The 10-year Treasury yield rose 5 basis points this week, while the rate on 30-year fixed loans dropped 4 basis points to 3.92%. Home loan rates in next week’s survey would depend on how the market reacts to the Fed’s balance sheet unwinding announcement.”

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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