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
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