Average US 30-year mortgage rate slips to 4.02 percent

Adjustable mortgage rates were on the decline as well, with the 5-year ARM sinking to 3.42 percent and the 7-year ARM reverting to where it had been two weeks ago at 3.62 percent.

Mortgage rates for 30-year and 15-year fixed home loans, as well as 5/1 ARM rates, moved a notch higher today, according to a NerdWallet survey of mortgage interest rates published by national lenders Friday morning.

Wednesday's selloff - the Dow took its biggest dive in eight months - took place after Freddie Mac polled lenders for this week's survey.

Mortgage rates fell over the week ahead of the steep decline in the United States stock market, Freddie Mac reported.

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The vast majority of mortgages are underwritten to strict standards set by the USA government or quasi-government entities Fannie Mae FNMA.PK and Freddie Mac FMCC.PK .

The majority of the panelists, 58 percent, see the decline in mortgage rates continuing while 42 percent expect mortgage rates to remain more or less unchanged over the next week.

And now, 's stock price rose to 50.74 up +0.27. One point equals 1 percent of the loan amount. US stocks plunged on Wednesday to the lowest level in a year as the controversy swirled over President Donald Trump's firing of former FBI Director James Comey, and the possible divulgence of classified information to the Russians. "This benefits the bond market (where mortgage interest rates are priced), as investors look for certainty and to avoid volatility". The market composite index - a measure of total loan application volume - decreased 4.1 percent. Interestingly, none of this week's respondents predict a rebound in mortgage rates in the next seven days.


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