Mortgage Rates and Treasury Yields Fall.
On Tuesday, Treasury bond yields and Mortgage interest rates fell as bond investors once again punt on bonds in favor of pushing Stocks to all-time highs on the averages. The allure of fast gains on a frothy stock market outshines boring bonds. Nervous investors mull economic signals and the impact of the Tax cut on economic growth potential. Bond investors are looking at the possibility of lower-for-longer policy as an incentive to buy bonds. Treasury Note stood at a yield of 2.3559% and the 30 Yr. U.S. Treasury Bond is yielding 2.7577%. 30 Year Mortgages according to Freddie Mac were around 3.92% for conforming and 3.72% 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.