Mortgage Rates on the Rise Again This Week

Mortgage Rates on the Rise Again This Week
Daily Real Estate News; April 04, 2014

Mortgage rates ticked up slightly this week, as the 30-year fixed rate mortgage averaged 4.41 percent – more than a full percentage point higher than it was a year ago at this time, according to Freddie Mac’s Primary Mortgage Market Survey.

Freddie Mac reported the following national averages with mortgage rates for the week ending April 3:

  • 30-year fixed-rate mortgages: averaged 4.41 percent, with an average 0.7 point, up slightly from last week’s 4.40 average. Last year at this time, 30-year rates averaged 3.54 percent.
  • 15-year fixed-rate mortgages: averaged 3.47 percent, with an average 0.6 point, rising from last week’s 3.42 percent average. A year ago, 15-year rates averaged 2.74 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.12 percent, with an average 0.5 point, up from last week’s 3.10 average. Last year at this time, 5-year ARMs averaged 2.65 percent.
  • 1-year ARMs: averaged 2.45 percent, with an average 0.4 point, rising from last week’s 2.44 percent average. A year ago, 1-year ARMs averaged 2.63 percent.

Source: Freddie Mac; Daily Real Estate News (040414) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville and Brentwood, Tennessee

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Author: Kenneth Bargers

REALTOR®, Tennis Player, Titans & Vols Fan, Nashvillian... learn more about me at http://www.bargers-solutions.com/about-me

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