Fixed-rate residential mortgage rates also declined, with rates fixed for 1-3 years falling by 39 basis...
A year ago at this time, the 30-year FRM averaged 3.58%. As far as refi FHA ARMs go, 5 year interest rates have been offered at 3.625% with an April of 3.852%. That's clearly much higher than the monthly payment would be on a 30-year mortgage at that rate, but it comes with some big advantages: You'll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.
Variable buy-to-let (BTL) mortgage rates for new drawdowns fell by 0.2 per cent over the 12 months to 2017 to 4.71 per cent. A year ago, the 5-year ARM averaged 2.84 percent.
Whenever investors are faced with uncertainty in the market, they move toward safe assets such as government bonds. When the yield is up, mortgage rates typically go up. That pushed their yields lower. "The 30-year mortgage rate fell two basis points to 4.08 percent".
The 10-year Treasury note jumped after November 8 on Trump's promises of tax reform and infrastructure spending. It rose to 2.26 percent Thursday morning. The new rules removed the €220,000 cap on mortgage lending for first-time buyers with a deposit of 10 per cent. About a third of them expect rates to fall.
Meanwhile, mortgage applications were up slightly last week, according to the latest data from the Mortgage Bankers Association. One point equals 1 percent of the loan amount. The refinance index was unchanged, while the purchase index rose 3 percent.
"The spring housing market is off to a solid start, with conventional purchase applications reaching their highest level on a seasonally adjusted basis since October 2015", Fratantoni said.