The WPJ
Residential Real Estate News
Mortgage Rates Uptick on Mixed Economic and U.S. Housing Data
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS) for late April 2015, the average fixed mortgage rate rose slightly higher amid mixed housing and economic reports.
Freddie Mac chief economist Len Kiefer said, "Mortgage rates were up slightly following a week of mixed economic releases. Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter of 2015, well below expectations. However, the National Association of Realtors' pending home sales index rose 1.1 percent in March for the third consecutive month. The S&P/Case-Shiller National House Price Index also rose 5.0 percent in February on a yearly basis."
Freddie Mac Facts
- 30-year fixed-rate mortgage (FRM) averaged 3.68 percent with an average 0.6 point for the week ending April 30, 2015, up from last week when it averaged 3.65 percent. A year ago at this time, the 30-year FRM averaged 4.29 percent.
- 15-year FRM this week averaged 2.94 percent with an average 0.6 point, up from last week when it averaged 2.92 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week with an average 0.5 point, up from last week when it averaged 2.84 percent. A year ago, the 5-year ARM averaged 3.05 percent.
- 1-year Treasury-indexed ARM averaged 2.49 percent this week with an average 0.4 point, up from last week when it averaged 2.44 percent. At this time last year, the 1-year ARM averaged 2.45 percent.
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