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U.S. Mortgage Interest Rates Unchanged to Start Febuary

Feb 7, 2017 12:16:13 PM

Average U.S. mortgage interest rates for 30-year home loans were unchanged to start February, according to Freddie Mac's Primary Mortgage Market Survey.

U.S. Mortgage Interest Rates 4.19 PercentThe 30-year, fixed rate mortgage loan remained at 4.19 percent, with an average 0.5 point, for the week ending February 2, 2017. During the same week last year, the 30-year note averaged 3.72 percent.  

"The 10-year Treasury yield fell 5 basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed's decision to leave rates unchanged,"Sean Becketti, chief economist for Freddie Mac, said. "The 30-year mortgage rate remained flat at 4.19 percent, starting the month 47 basis points higher than this time last year. Despite the uncertainty in the market, the pending home sales index increased 1.6 percent in December, up from a decline of 2.5 percent the month prior."

The 15-year, fixed rate mortgage loan, with an average 0.5 point, increased 1 basis point to 3.41 percent compared to the previous week. A year ago, the 15-year home loan averaged 3.01 percent.  

The 5-year, adjustable rate mortgage averaged 3.23 percent, with an average 0.4 point, up from 3.20 percent the previous week and 2.85 percent the previous year.

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