Minor Changes in Mortgage Rates

The average interest rates of home mortgage loans barely moved during the week ended April 2nd 2015 compared to the week before. This is revealed in the results of the Primary Mortgage Market Survey of Freddie Mac.
The average rate of a 30-year fixed-rate mortgage loan went up by 0.01 percentage points to 3.70% from 3.69% during the previous week. Despite the small increase, the rate is lower compared to the same week of last year when it was 4.41%.

The interest rate of a 15-year fixed-rate mortgage reached an average of 2.98% during the week. It also rose by 0.01 percentage points from the week before when it was 2.97%. In the same week of 2014, the average rate of this type of fixed-rate home loan was 3.47%.

The 5-year hybrid mortgage loan with adjustable rate had an average interest rate of 2.92% in the week ended April 2nd. It remained unchanged compared to the week before. At the same time one year ago, the average rate of this type of mortgage was 3.12%.

Refinance at
Loan Type

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The average rate of a 1-year hybrid adjustable-rate home loan was 2.46 during the week. It had not undergone any changes in comparison to the previous week. In the same week one year ago, it was 0.01 percentage point lower. It was 2.45% back then.

The deputy chief economist of Freddie Mac, Len Kiefer, commented that during the week ended April 2nd 2015 mortgage rates underwent little changes and remained closed to their levels from the start of the year. While the revised GDP growth for the fourth quarter of 2014 remained 2.2% as previously calculated, the National Association of Realtors reported a higher than anticipated increase in pending home sales in February. It was 3.1%. This allowed the pending home sales index to reach its highest level since June 2013. Back then the average rate on a 30-year fixed-rate mortgage was 0.37 percentage points higher than today.

Mailynne

Mailynne

Mailynne serves as a content strategist and writer for mortgage.info. She is ahighly task-oriented strategic planner and experienced writer. Over the past 10 years, Mailynne has managedcontent for both large corporations, non-profits and businesses. She specializes in managing digital marketing,branding and web development content. Mailynne has worked with a variety of local, national and international organizations.

Contact: mailynne@mortgage.info
Mailynne

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