The FINANCIAL -- Freddie Mac on April 16 released the results of its Primary Mortgage Market Survey, 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 mortgage (FRM) averaged 3.67 percent with an average 0.7 point for the week ending April 16, 2015, up 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 FRM this week averaged 2.94 percent with an average 0.5 point, up 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 Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week with an average 0.5 point, up from last week when it averaged 2.83 percent. A year ago, the 5-year ARM averaged 3.03 percent.
1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.44 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
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."