Bouncing Mortgage Rates

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Freddie Mac’s PMMS report reveals that last week the 30 year fixed conforming mortgage averaged 3.68% with an average 0.5 point.pmms march 10 2016
This is slightly higher than what was reported last week and slightly lower compared to a year ago.

From Freddie Mac’s Chief Economist, Sean Becketti:

“The 10-year Treasury yield ended the survey week exactly where it started, however the solid February employment report boosted the yield noticeably on Friday and Monday. Our mortgage rate survey captured the impact of this temporary increase in yield, and the 30-year mortgage rate rose 4 basis points to 3.68 percent. This marks the second increase this year. Nonetheless, the mortgage rate remains 33 basis points lower than its end-of-2015 level.

It’s still a great time to refinance or lock in a low rate if you’re buying a home. If you are considering either buying a home or refinancing a home located anywhere in Washington state, I’m happy to help you. Click here if I can provide you with a mortgage rate quote.

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