Mortgage rates decreased marginally as trade tensions have been heating up for the past week. The uncertainty of a looming trade war between the U.S. and China has spooked investors into safer assets, says Freddie Mac chief economist Len Kiefer. This temporary dip in rates, however, will likely become inconsequential in the next few months as mortgage rates start to climb towards 5% by the end of 2018.
- The 30-year FRM decreased slightly to 4.44%, down from 4.45% last week
- The 15-year FRM decreased slightly to 3.90%, down from 3.91% last week
- The yield on the 10-year Treasury dipped below 2.8% for the first time since early February
“Treasury yields fell from a week ago helping to drive mortgage rates modestly lower,” said Len Kiefer, Freddie Mac deputy chief economist. “The yield on the 10-year Treasury dipped below 2.8% for the first time since early February of this year. The decline in Treasury yields comes as investors move into safer assets amid increased trade tensions.”
The 30-year fixed-rate mortgage decreased slightly to 4.44% for the week ending March 29, 2018. This is down from last week’s 4.45% but still up from 4.14% last year.
View the original article at Housing Wire