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Mortgage rates edge down

May 16, 2019 10:27 AM ETBy: Liz Kiesche, SA News Editor
  • 30-year fixed-rate mortgage averaged 4.07% for the week ending May 16, 2019, down from 4.10% in the previous week and 4.61% at this time last year, according to the Freddie Mac Primary Mortgage Market Survey.
  • “Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve," said Freddie Chief Economist Sam Khater. Still, the economy "remains on solid ground," he said.
  • 15-year FRM of 3.53% edges down from 3.57% in the prior week and 4.08% a year ago.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.66%, up from 3.63% a week ago and down from 3.82% a year ago.
  • Previously: Freddie sees steady growth in housing market (May. 16 2019)
  • ETFs: MORL, REM, XHB, ITB, MORT, DMO, PKB, TSI, PGZ, JLS, NAIL, CMBS, FMY, HOML, JMT, LMBS, MBSD, HOMZ

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