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U.S. Mortgage Interest Rates Decline Slightly

Feb 12, 2017 3:37:08 PM

Average U.S. mortgage interest rates slightly declined for the week ending February 9, 2017, and remained within a two-basis-point range over the past three weeks, according to Freddie Mac's weekly Primary Mortgage Market Survey.

Average U.S. Mortgage Interest Rates for the Week Ending February 9, 2017The 30-year, fixed rate mortgage loan averaged 4.17 percent, with an average 0.4 point, down from 4.19 percent the previous week and 3.65 percent the previous year. 

"The 30-year fixed mortgage fell two basis points to 4.17 percent this week," Freddie Mac chief economist Sean Becketti said. "Rates are at about the same level at which they started the year and have stayed within a two basis point range over the past three weeks. Mixed economic releases such as Friday's jobs report and uncertainty about the Administration's fiscal policies have contributed to the holding pattern in rates."

The 15-year, fixed rate mortgage loan averaged 3.39 percent, with an average 0.4 point, down from a 3.41 percent average the previous week. During the same time last year, the 15-year note averaged 2.95 percent.

The five-year, adjustable rate mortgage loan averaged 3.21 percent.

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