Average U.S. mortgage interest rates declined for the second consecutive week, Freddie Mac reported February 16, 2017, through its weekly Primary Mortgage Market Survey; however, interest rates averaged a half-point more than last year.
The 30-year, fixed rate mortgage home loan, with an average 0.5 point, declined 2 basis points to 4.15 percent for the week ending February 16, 2017. During the same week last year, the 30-year note averaged 3.65 percent.
"For the last 46 years, the 30-year mortgage rate has been almost perfectly correlated with the yield on the 10-year Treasury, but not this year," Sean
The 15-year, fixed rate mortgage loan averaged 3.35 percent, with an average 0.5 point, compared to 3.39 percent the previous week and 2.95 percent the previous year. The five-year, adjustable rate mortgage averaged 3.18 percent.