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Today's mortgage rates - May 23, 2017

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In recent times, political events overseas have tended to help interest rates to fall. This week, however, those issues are a domestic concern, as President Trump's foibles have set markets on edge. As a result, mortgage rates eased just a bit, with the average conforming 30-year fixed rate taking back the previous week's three basis point climb, according to Freddie Mac. That left the benchmark mortgage rate at an average of 4.02 percent for the week, and similar movement was seen in both the 15-year fixed-rate mortgage (down 0.2 percent, returning to a two-week-ago average of 3.27 percent). The 5/1 Hybrid ARM retreated by one one-hundredth of a percentage point, a fall good enough to put it back to 3.13 percent for the week.

The rumbling from Washington is a concern for investors, as the issues at hand may prevent President Trump's promises of looser regulation and lower taxes from moving forward, trimming expected economic growth. In turn, futures markets have scaled back the probability from about 85 percent to about 74 percent for a June move by the Federal Reserve.

Today's rates
4.02%

30-Year Fixed

3.27%

15-Year Fixed

3.13%

5/1 Year ARM

Source: Freddie Mac

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