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The Weekly Roundup

property-inspection-bhOn Thursday Bankrate, Freddie Mac, and Bloomberg all released week-over-week reports, detailing changes experienced in mortgage rates and other market-health indicators.

Per Bankrate’s weekly national mortgage rate survey, the 30-year fixed mortgage rate benchmark was 4.29 percent this week, compared to last week’s rate of 4.35 percent.

Furthermore, the average for the 15-year fixed mortgage rate declined to 3.48 percent, from the previous week’s 3.51 percent.

Another weekly summary released on Thursday was Freddie Mac’s Primary Mortgage Market Survey (PMMS). In the PMMS, Freddie Mac reported that 30-year fixed mortgage rate averaged 4.16 percent this week with an average 0.5 percent point. This is an increase from last week’s average of 4.15 percent, and 3.62 percent seen this week last year. The 15-year fixed mortgage rate averaged 3.37 percent with an average 0.5 point. This time last week the rate was 3.35 percent, while this time last year it averaged 2.93 percent.

Moreover, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.16 percent this week with an average 0.4 point, down from last weeks 3.18 percent. This compare to last years’ average of 2.79 percent.

"In a short week following Presidents Day, the 10-year Treasury yield fell about 8 basis points. However, the 30-year mortgage rate rose 1 basis point to 4.16 percent. This week's survey once again displays the disconnect between mortgage rates and Treasury yields, a result of continued uncertainty," said Sean Becketti, Chief Economist at Freddie Mac.

Lastly, DS News examined Bloomberg’s Consumer Comfort Index—a weekly survey that tracks Americans’ views on the U.S. economy, their personal finances, and the buying climate. With a survey range of 0 to 100, this week’s consumer comfort level is 48, down one tenth from the prior week.

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