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Mortgage Rates Unchanged And Remain Near 2015 Lows
Dated: April 16 2015
Freddie Mac: 30-year at 3.67%
Average fixed mortgage rates were largely unchanged amid a light week of economic releases, with rates hovering near their 2015 lows.
Despite this, Mortgage applications have been largely flat this year so far.
“Mortgage rates were little changed following a light week of economic reports and remaining low at the spring homebuying season. Of the few releases, the advance estimate of retail sales rebounded 0.9% in March though slightly below market expectations,” said Len Kiefer, deputy chief economist, Freddie Mac. “Meanwhile, theNational Association of Home Builders/Wells FargoHousing Market Index jumped 4 points to 56 in April, suggesting home builders are optimistic and the housing market will continue to strengthen in 2015.”
The 30-year fixed-rate mortgage averaged 3.67% with an average 0.7 point for the week ending April 16, 2015, up from last week when it averaged 3.66%. A year ago at this time, the 30-year FRM averaged 4.27%.
The 15-year FRM this week averaged 2.94% with an average 0.5 point, up from last week when it averaged 2.93%. A year ago at this time, the 15-year FRM averaged 3.33%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.88% this week with an average 0.5 point, up from last week when it averaged 2.83%. A year ago, the 5-year ARM averaged 3.03%.
The 1-year Treasury-indexed ARM averaged 2.46% this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.44%.
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....
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