Average US 30-year mortgage rate slips to 4.02 percent


"The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week's survey", Becketti said.

Freddie Mac said the 30-year fixed-rate mortgage averaged 4.02% for the week ending May 18, down from 4.05%. This is down from last week's 4.05% but up from last year's 3.58%. The 5 year ARM deals at Harris Bank start at 2.750% with a starting April of 3.703%. 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. 7 year ARM interest rates are coming out at 3.000% now and April of 3.678%.

Drilling down a bit, 's own stock waned to 50.45 down -2.91%.

The benchmark 30 year loan interest rates at Suntrust Banks (NYSE:STI) can be had for 3.990% with an April of 4.1081%. The fee on 15-year loans also held steady at 0.5 point.

The best 30 year loan interest rates at Chase Bank (NYSE:JPM) are available starting at 3.750% and April of 3.915% today. "The year-over-year increase was driven by conventional loans, which tend to be larger, leading to a record high for the average purchase loan size". The 7 year ARM loans are being quoted at 3.400% now showing an April of 3.8120%.

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days.

30 year loan interest rates at Suntrust Banks (NYSE:STI) start at 3.990% today with an April of 4.1081%. The 10 year ARM loans have been offered at 3.250% now with an April of 3.687%. 7 year refinance ARMs are available starting at 3.500% today carrying an April of 3.581%.

And now, Harris Bank's own stock price dropped to 67.69 down -1.36.