If you need assistance, please call 317-590-2901

Borrowing Costs Move Lower This Week

Saturday, January 14, 2017   /   by Carlos J Higareda

Borrowing Costs Move Lower This Week




Mortgage rates edged down for the second consecutive week, a temporary reprieve from what had been weeks of rising rates.


"After absorbing a mixed December jobs report; the 10-year Treasury yield fell 8 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved in tandem with Treasury yields falling 8 basis points to 4.12 percent, the second decline since the presidential election. The December jobs report showed 156,000 jobs added, barely meeting many experts' expectations, while wage growth was at the high end of expectations at 0.4 percent. If strong wage gains persist, they may push inflation and interest rates higher."


Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 12:



  • 30-year fixed-rate mortgages: averaged 4.12 percent, with an average 0.5 point, dropping from last week’s 4.20 percent average. Last year at this time, 30-year rates averaged 3.92 percent.

  • 15-year fixed-rate mortgages: averaged 3.37 percent, with an average 0.5 point, falling from last week’s 3.44 percent average. A year ago, 15-year rates averaged 3.19 percent.

  • 5-year hybrid adjustable-rate mortgages: averaged 3.23 percent, with an average 0.5 point, falling from last week’s 3.33 percent average. A year ago, 5-year ARMs averaged 3.01 percent.


Source: Freddie Mac



RE/MAX Results
Carlos Higareda
48 N. EMERSON AVE
Greenwood, IN 46143
317-590-2901
317-881-3700

The source of the Licensed Listings is BLC® listing service. The Licensed Listings are confidential information of BLC® listing service. The BLC® listing information is provided by the Metropolitan Indianapolis Board of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2019 Metropolitan Indianapolis Board of REALTORS® All Rights Reserved. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.