Freddie Mac released the weekly PMMS (Prime Mortgage Market Survey) showing that mortgage rates continue to be at the lowest levels of 2017 with the 30 year fixed back under 4.000%.
The PMMS reports on average rates from the previous week based on a survey for conforming loans (loan amounts $422,950 and below). Last week, the 30 year fixed averaged 3.89 with 0.5 points. From the PMMS:
“The 10-year Treasury yield fell 3 basis points this week. The 30-year mortgage rate moved in tandem with Treasury yields, falling 5 basis points to 3.89 percent. Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months.”
We are noticing an increase in refinances with the 30 year fixed being back below four percent.
If you’re considering refinancing or buying a home located anywhere in Washington state, I’m happy to help you. Click here for a no-hassle mortgage rate quote.
This morning the Fed raised the Federal Funds Rate this morning by 0.25% to 1.00%. Although the Fed does not directly control mortgage rates, this move will most likely cause mortgage rates to continue to trend higher. The Fed Funds rate does directly impact home equity lines of credit interest rates that are attached to the prime rate. 
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