Mortgage Rates – 5-Year ARM Hits New Low

30 Year Fixed Mortgage Interest Rates Fall

30 Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) the 30-year fixed-rate mortgage (FRM) averaged 3.90 percent for the week ending April 19, 2012 – up (slightly) from last week when it averaged 3.88 percent. At this same time last year, the 30-year FRM averaged 4.80 percent.

15 Year Fixed Rate Mortgages

The 15-year FRM averaged 3.13 percent for the week – up from last week when it averaged 3.11 percent. A year ago at this time, the 15-year FRM averaged 4.02 percent.

“Fixed mortgage rates held relatively stable this week amid signs that inflation remains in check.  Industrial production was flat in March, a reading below the market consensus forecast. Meanwhile, both headline inflation gauges (the consumer and producer price indexes) for March were in line with market expectations, ” said Frank Nothaft, vice president and chief economist, Freddie Mac.

New All-Time Low for 5-Year Adjustable-Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78 percent for the week – down from its previous all time low of 2.88 percent set the first week of February 2012. Last year at this time, the five-year ARM averaged 3.61 percent. Also this week, the one-year Treasury-indexed ARM is up to 2.81% from 2.80 percent last week.  At this time last year, the one-year ARM averaged 3.16 percent.

Original Source: Freddie Mac

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.