Freddie Mac (FMCC: OTCQB) | Mortgage Rates Edge Down

Freddie Mac (FMCC: OTCQB) | Mortgage Rates Edge Down

At the current average 30-year fixed mortgage rate of 4.15 percent, the monthly payment for a $200,000 loan is $972.21.

Rates on adjustable five-year loans declined to 3.13 percent from 3.14 percent last week.

Wednesday, turmoil in Washington over President Donald Trump's alleged Federal Bureau of Investigation scandals sent the Dow Jones Industrial average, and the 10-year Treasury, plummeting.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to 4.02 percent with an average 0.5 point.

This chart shows the movement of mortgaged rates over the past year. A 5-year ARM was down to 3.42%.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

USA markets have been in turmoil this week over concerns about President Donald Trump's economic agenda.

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

Political uncertainty is causing anxious investors, who are pulling back from stocks and moving into bonds., which puts out a weekly mortgage rate trend index, found that more than half of the experts it surveyed say rates will go down.

"Political drama in Washington prompted mortgage rates to fall as investors scale back their expectations for the passage of legislation that might boost economic growth", said Svenja Gudell, chief economist at real estate data provider Zillow. This is down from last week's 4.05% but up from last year's 3.58%.