The WPJ
Residential Real Estate News
Mortgage Rates in U.S. Uptick in Late April
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. fixed rate mortgage followed an uptick in the 10-year Treasury note and amid a week of soft housing data.
Freddie Mac chief economist Frank Nothaft said, "Mortgage rates edged up following the uptick in the 10-year Treasury note late last week. Existing home sales were essentially flat with a 0.2 percent decline in March to a seasonally adjusted annual rate of 4.59 million. However, new home sales fell nearly 15 percent in March to an annual rate of 384,000, well below consensus."
Freddie Mac Report Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.33 percent with an average 0.6 point for the week ending April 24, 2014, up from last week when it averaged 4.27 percent. A year ago at this time, the 30-year FRM averaged 3.40 percent.
- 15-year FRM this week averaged 3.39 percent with an average 0.6 point, up from last week when it averaged 3.33 percent. A year ago at this time, the 15-year FRM averaged 2.61 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.03 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.58 percent.
- 1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.62 percent.
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