Mortgage Rates Steady Treasury Yields Unchanged.
On Friday, Treasury bond yields were steady and interest rates remained near the lowest levels so far for 2017. Mortgage Rates (despite the Fed June Rate Hike of 0.25%) have fallen nearly to the lowest levels of the year. The September 10 Yr. U.S. Treasury Note stood at a yield of 2.1423% and the 30 Yr. U.S. Treasury Bond yielded 2.6853%. 30 Year Mortgages according to Freddie Mac were around 3.89% for conforming and 4.23% 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)
30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.5 point for the week ending June 22, 2017, down from last week when it averaged 3.91 percent. A year ago at this time, the 30-year FRM averaged 3.56 percent.
15-year FRMthis week averaged 3.17 percent with an average 0.5 point, down from last week when it averaged 3.18 percent. A year ago at this time, the 15-year FRM averaged 2.83 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgageARM) averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. A year ago at this time, the 5-year ARM averaged 2.74 percent.