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published in Blogs
May 31, 2019

US 30-year mortgage rate drops

Interest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first time since January 2018 in step with declining U.S. bond yields due to growing trade tension between China and the United States, Freddie Mac said.

Thirty-year mortgage rates averaged 3.99% in the week ended May 30, down from 4.06% a week earlier and 4.56% a year ago, the mortgage finance agency said.ย The average 15-year mortgage rate fell to 3.46% from 3.51% the week before. It was 4.06% a year earlier.ย 

Interest rates on five-year adjustable mortgages averaged 3.60%, down from 3.68% the prior week and 3.80% from the year before.

Related Ticker: DRGMX

Industry description

The investment seeks to maximize total return, consisting of capital appreciation and current income. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in U.S. mortgage-related securities. It will invest at least 65% of its net assets in Ginnie Maes. The fund can invest in privately issued mortgage-backed securities with a "BBB" or higher credit quality, but currently the advisor intends to invest in only those securities with an "A" or higher credit quality. It is not subject to any maturity or duration restrictions.
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A.I. Advisor
published General Information

General Information

Category IntermediateGovernment

Profile
Fundamentals
Details
Category
Intermediate Government
Address
Dreyfus Premier Gnma Fund Inc200 Park AveNew York
Phone
212-922-6850
Web
www.dreyfus.com
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DRGMX and

Correlation & Price change

A.I.dvisor indicates that over the last year, DRGMX has been closely correlated with UGSCX. These tickers have moved in lockstep 95% of the time. This A.I.-generated data suggests there is a high statistical probability that if DRGMX jumps, then UGSCX could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To DRGMX
1D Price
Change %
DRGMX100%
N/A
UGSCX - DRGMX
95%
Closely correlated
N/A
RGVEX - DRGMX
95%
Closely correlated
N/A
RGVFX - DRGMX
95%
Closely correlated
N/A
UGSFX - DRGMX
95%
Closely correlated
N/A
RGEVX - DRGMX
90%
Closely correlated
N/A
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