Mortgage Rates Fall

Sam Khater, Freddie Mac’s chief economist said, “Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease. A combination of low mortgage rates, a strong job market and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring.”

• 30-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending May 9, 2019, down from last week when it averaged 4.14%. A year ago at this time, the 30-year FRM averaged 4.55%.

• 15-year FRM this week averaged 3.57% with an average 0.4 point, down from last week when it averaged 3.60%. A year ago at this time, the 15-year FRM averaged 4.01%.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63% with an average 0.4 point, down from last week when it averaged 3.68%. A year ago at this time, the 5-year ARM averaged 3.77%.

Guillermo "Bill" Sanjurjo Realtor® 12955 SW 42 St Suite 2, Miami, FL 33175 Cell: 786-232-1400