At the current average 30-year fixed mortgage rate of 4.15 percent, the monthly payment for a $200,000 loan is $972.21.
Quote Attributed to Sean Becketti, chief economist, Freddie Mac.
Wednesday, turmoil in Washington over President Donald Trump's alleged Federal Bureau of Investigation scandals sent the Dow Jones Industrial average, and the 10-year Treasury, plummeting. On Thursday, however, stocks were trading higher.
Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.
It was 3.58% in the year-ago week. Shorter term 15 year FRM interest rates have been published at 3.250% and an April of 3.374% today. Other key rates also fell marginally. The 5 year ARMs at are being quoted at 3.125% and April of 3.677%.
Political uncertainty is causing anxious investors, who are pulling back from stocks and moving into bonds.
Fixed mortgages rates are wobbling near six-month lows, according to the NerdWallet Mortgage Rate Index. One point equals 1 percent of the loan amount. The five-year adjustable rate average slipped to 3.13 percent with an average 0.5 point. 20 year fixed rate mortgage interest rates are being offered for 3.625% and April of 3.723%.
The 5/1 ARM interest rates at PHH Mortgage are available starting at 3.310% and an April of 3.853%. "Purchase volume is running more than 9 percent above last year's pace, with conventional purchase application volume up more than 12 percent".