Mortgage Rates December 29 2016

On a short week following the Christmas holiday, the 10-year Treasury yield was relatively unchanged. The 30-year mortgage rate rose 2 basis points, closing the year with nine consecutive weeks of increases. As mortgage rates continue to increase, home sales and affordability will continue to be a concern for housing in 2017.

?Despite the recent jump in mortgage rates since the election, the annual average for the 30-year fixed-rate mortgage in 2016 was the lowest annual average ever recorded in the Freddie Mac Primary Mortgage Market Survey going back to 1971.” ?-Sam Becketti, Chief Economist, Freddie Mac