Weekly Mortgage Market Report November 17, 2016

ewirr-up

untitled
“Last week’s election fell in the middle of our survey week, making it impossible to determine how closely the mortgage rate would track the post-election sell-off in the Treasury market. This week, the verdict is in — over the last two weeks the 30-year mortgage rate jumped 40 basis points, almost identical to the 39 basis point increase in the 10-year Treasury yield. If rates stick at these levels, expect a final burst of home sales and refinances as ‘fence sitters’ try to beat further increases, then a marked slowdown in housing activity.”
– Sean Becketti, chief economist, Freddie Mac

The data presented above are the exact published results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) and are provided for informational purposes only. The data are not rate quotes and are not intended as an advertisement of interest rates as defined by Regulation Z, Section 1026.2.
The financial and other information contained herein speaks only as of the date posted herein. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Averages are for conforming mortgages with 20% down. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage (one point equals one percent of the loan amount). Freddie Mac, and/or the provider of this information, is/are not responsible for business decisions made based on the reported results of the PMMS.

Share!

Leave a Reply

Your email address will not be published. Required fields are marked *