Rates Hit 3.80% Lowest Level of the Year

 Mortgage Rates Hit 3.80% Lowest Level of the Year
“This is likely the last of the low rates,” said Smoke. “We’re likely to see increases in the weeks ahead.” The 30-year fixed-rate mortgage dropped to its lowest point of the year as 10-year Treasury yields closed at their lowest level since May 2013, according to Freddie Mac. This week, the 30-year fixed-rate mortgage fell to 3.80%, down from 3.93% last week. A year ago this time, it was 4.47%, according to the Primary Mortgage Market Survey. “The temporary decline in rates will likely be short-lived,” said Jonathan Smoke, chief economist.  “Those who can take advantage now and lock in a purchase or refinance at these levels may never see these rates again.” Read more.