Mortgage Rate Summary for US Bankcorp, Chase Bank May 18, 2017

The average contract interest rate for 30-year, fixed-rate mortgages with conforming loan balances of $424,100 or less remained unchanged at 4.23 percent, with points increasing to 0.37 from 0.31, including the origination fee, for 80 percent loan-to-value ratio loans. The rate stood at 3.58 percent a year ago and averaged 3.65 percent in 2016, the lowest level in records dating to 1971.

Also at that time, the 30-year fixed mortgage rate was down 9 basis points to 3.746%, the lowest rate in weeks, according to Zillow Mortgages. Bond prices rose as investors shunned riskier assets. While a solid majority, almost two-thirds (65%) of futures traders, believe the Fed will move rates a quarter point higher next month, that's down from 83% just a week ago.

"The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week's survey", Becketti said. This is down from last week's 4.05% but up from last year's 3.58%.

The contract interest rate for a 5/1 adjustable-rate mortgage loan decreased from 3.36% to 3.30%. "However, this week's survey closed prior to Wednesday's flight to quality".

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This chart shows the movement of mortgaged rates over the past year., which puts out a weekly mortgage rate trend index, found that more than half of the experts it surveyed say rates will go down.

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