Mortgage rates for 30-year fixed loans dipped slightly, while 15-year fixed loans were steady and 5/1 ARMs moved a tad lower, according to a NerdWallet survey of current mortgage rates published by national lenders Friday morning.
With the bond markets shutting down early today and closed Monday for Memorial Day, traders are likely considering picnic spreads rather than yield spreads. It has been a quiet week, when 30-year fixed mortgage rates have remained virtually motionless. A few more weeks like this and there will be no need for a graph — a simple straight line will do.
In fact, mortgage rates are so favorable that Freddie Mac has reversed its housing outlook for the year. What was once a slightly pessimistic view is now anything but.
“With home sales, housing starts and home values up, 2017 is shaping up to be the best year for housing in over a decade,” Sean Becketti, Freddie Mac chief economist, wrote in an analysis.
MORTGAGE RATES TODAY, FRIDAY, MAY 26:
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Homeowners looking to lower their mortgage rate can shop for refinance lenders here.
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.
A previous version of this article misstated the 30-year fixed rate as 4.08%. This article has been corrected.