Mortgage Rates Continue To Drop

Mortgage rates were down again in today’s Freddie Mac Weekly Survey, continuing to drop from recent highs. The 30 Year Fixed Rate Mortgage was at 5.10% in today’s Freddie Mac survey and the 15 Year Fixed Rate Mortgage was at 4.31%. Recently the Federal Reserve raised the Fed Funds Rate target by 0.50% and said it will begin to liquidate mortgage and treasury securities on its balance sheet in June. All indications still point to another half-point fed funds rate increase next month. This is likely already baked into the calculation for mortgage rates. Mortgage rates will be much more affected by the impacts of the Fed becoming a seller of mortgage securities in the coming months. As of today, they are still a buyer.

Freddie Mac’s Weekly Survey was released this morning with its most recent assessment of the mortgage rate landscape. See the details of their survey below.

(dynamic chart with current info)


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