The average 30-year fixed-rate mortgage declined slightly to 2.86% for the week ending in August 19, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS.
The week prior, mortgage rates rose to 2.87%, after six consecutive weeks of mortgage rate declines. This week’s slight decline tracks closely with downward-trending U.S. Treasury yields. The 10-year Treasury was slightly lower this week, after a rebound the week prior. The 10-year Treasury yield for August 18 was 1.27.
According to Sam Khater, chief economist at Freddie Mac, as with other parts of the economy, low housing inventory and price details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com