Mortgage Rates Little Changed Remain Near 2015 Lows

Mortgage Rates Little Changed
 

Mortgage Rates Little Changed Remain Near 2015 Lows

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates moving largely unchanged amid a light week of economic releases and remaining near their 2015 lows.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages averaged 3.67 percent, up slightly from last week when it averaged 3.66 percent. A year ago at this time, the 30-year FRM averaged 4.27 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage averaged 2.94 percent, also up slightly from last week when it averaged 2.93 percent. A year ago at this time, the 15-year FRM averaged 3.33 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged at 2.88 percent, up from last week when it averaged 2.83 percent. A year ago, the 5-year ARM averaged 3.03 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM is at 2.46 percent, unchanged from last week. At this time last year, the 1-year ARM averaged 2.44 percent.

Contact a licensed mortgage loan professional to take advantage of mortgage rates while they are still historically low. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

Attributed to Len Kiefer, deputy chief economist, Freddie Mac:

“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 [PDF] rebounded 0.9 percent in March though slightly below market expectations. Meanwhile, the National Association of Home Builders/Wells Fargo Housing Market Index jumped 4 points to 56 in April, suggesting home builders are optimistic and the housing market will continue to strengthen in 2015.”

Original Source: Freddie Mac interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Want to Lock & Shop?

Inlanta is pleased to announce Inlanta Lock & Shop for home buyers who haven’t found a property but want to lock in an interest rate now. This Lock & Shop program is appealing to home buyers who fear a reduction in buying power as mortgage rates increase.

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