Mortgage Rates and Treasury Yields Fall Slightly.
On Thursday, Treasury bond yields and Mortgage interest rates rose slightly as investors await data on wage and price increases as a gauge to underlying direction of inflation in the economy and its impact on bonds. Though Stocks have fallen some, prices are still lofty just a couple of percent off all-time-highs in indexes. Nervous investors mull economic signals and the impact of the Tax cut on future growth potential & the goldilocks economy. The 10 Yr. Treasury Note stood at a yield of 2.8280% and the 30 Yr. U.S. Treasury Bond yielding 3.0584%. 30 Year Mortgages according to Freddie Mac were around 4.44% for conforming and 5.02% for Jumbo products.
ERATE employee warned families about Toxic Mortgages years before the mortgage meltdown. Bloomberg/Businessweek
June 9, 2005 - Keith M. Schemm, a mortgage broker in Santa Clara, CA, says option ARMS are "pretty dangerous loans to do" for many families. "The problem is there's such a frenzy in the marketplace to buy a home."
Too bad Fed Chairman, Alan Greenspan didn't sound the alarm about such mortgages. He should have consulted with Keith. (Keith Schemm NMLS ID: 336660)
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30-year fixed-rate mortgage(FRM) averaged 3.86 percent with an average 0.5 point for the week ending August 24, 2017, down from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.
15-year FRM this week averaged 3.16 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 5-year ARM averaged 2.75 percent.