Mortgage Rates and Treasury Yields Fall Slightly.
On Wednesday, Treasury bond yields and Mortgage interest rates fell slightly as Credit Market participants place bets on volatility and the near-term direction of interest rates in ‘quiet’ period in August. The September 10 Yr. U.S. Treasury Note stood at a yield of 2.2220% and the 30 Yr. U.S. Treasury Bond is yielding 2.8073%. 30 Year Mortgages according to Freddie Mac were around 3.89% for conforming and 4.10% 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 3.89 percent with an average 0.4 point for the week ending August 17, 2017, down from last week when it averaged 3.90 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, down from last week when it averaged 3.18 percent. A year ago at this time, the 15-year FRM averaged 2.74 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16 percent this week with an average 0.4 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 5-year ARM averaged 2.76 percent.