Mortgage Economic Update – May 7, 2017

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Mortgage Rates lower in April Mortgage rates dropped to a 5 month low in April. The May 3, 2017 Freddie Mac Primary Mortgage Survey reported that the 30 year fixed mortgage rate average was 4.02% almost unchanged from 4.03% on April 27, 2017. The 15 year fixed was 3.27%, unchanged from last week’s close. The 5-year ARM was 3.13%, also almost unchanged from 3.12% last week.