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Fannie Mae released its weekly yield for February 17, through February, 21. For 15-year, fixed-rate mortgages, the current market yield is noted was 2.970, up from the previous weeks figure of 2.870. The 15-year mortgage has increased from 2.310 a year ago.
The Fannie Mae release comments that all yields are quoted on a net basis, and servicing fees are not included.
30-year fixed-rate mortgages are slightly higher. The current mortgage yield is 3.990, up slightly from the previous week of 3.940. Yields continue to rise per year, up from last year’s yield of 3.150.
FHA/VA 30-year fixed rate mortgages rose to 4.650 from 4.580. FHA/VA yields rose substantially from the previous year’s yield of 3.740.
Adjustable-rate mortgage (ARM) yields are down from the previous week. Yields were 1.6 according to Fannie Mae, and dropped to 1.550 as of Friday, February 21. The net margin for an ARM yield is 2.250%.
