Freddie Mac  has released the results of its Primary Mortgage Market Survey, showing average mortgage rates holding steady for the week.

30-year fixed-rate mortgage (FRM) averaged 4.02 percent with an average 0.5 point for the week ending May 4, 2017, down from last week when it averaged 4.03 percent. A year ago at this time, the 30-year FRM averaged 3.61 percent.

15-year FRM this week averaged 3.27 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.86 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13 percent this week with an average 0.5 point, up from last week when it averaged 3.12 percent. A year ago, the 5-year ARM averaged 2.80 percent.

“The 10-year Treasury yield remained relatively flat this week, as did the 30-year mortgage rate which fell 1 basis point to 4.02 percent. Markets have been erring on the side of caution following a weak advance estimate for first-quarter GDP and the FOMC’s broadly expected decision to leave rates unchanged.” said Sean Becketti, chief economist, Freddie Mac.

Source: FreddieMac

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