Freddie Mac PMMS reports mortgage rates at a 10 week low

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Today Freddie Mac released their Prime Mortgage Market Survey which reports average conforming mortgage rates from last week.

pmms-sept-29-2016

From Freddie Mac Chief Economist, Stan Becketti:

“Investors flocked to the safety of government bonds causing the 10-year Treasury yield to continue its descent following the FOMC’s decision to leave rates unchanged. The 30-year fixed-rate mortgage responded by dropping 6 basis points before landing at 3.42 percent — a ten-week low. The course of the economy is uncertain, yet consumers continue to be a bright spot. The September consumer confidence index is up 3 percent to 104.1, exceeding forecasts and reaching a new cycle high.”

So if you’ve been sitting on the fence, contemplating a refinance – there’s no time like right now.

If your home is located anywhere in Washington state, where I’m licensed, I’m happy to help you. 🙂

 

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