ABBA First Mortgage News

It’s your decision- Lock now or risk rates rising

  • Last week 30-year fixed rates were slightly lower, continuing a trend which started four weeks ago.
  • For the week ending August 17, Freddie Mac announced that 30-year fixed rates fell one tick to 3.89% from 3.90% the week before.
  • The average for 15-year loans decreased to 3.16%, and the average for five-year adjustables moved up slightly to 3.16%.
  • A year ago, 30-year fixed rates averaged 3.43%.
  • Attributed to Sean Becketti, chief economist, Freddie Mac — “Following a mild decline last week, the 10-year Treasury yield rose 1 basis point this week. The rate on 30-year fixed loans similarly remained relatively flat, falling just 1 basis point to 3.89 percent. Rates on home loans are continuing to hold at low levels amidst ongoing economic uncertainty.”

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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