30-Year Fixed-Rate Mortgage Ticks Down to 3.98 Percent

April 9, 2012

30-Year Fixed-Rate Mortgage Ticks Down to 3.98 Percent

Freddie Mac has released the results of its latest Primary Mortgage Market Survey ® (PMMS®), showing average mortgage rates changing little from the previous week, with the average 30-year, fixed-rate mortgage remaining just below 4.00 percent for the second consecutive week.

Other important details from the PMMS:

30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending April 5, 2012, down from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.
15-year FRM this week averaged 3.21 percent with an average 0.7 point down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 4.10 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86 percent this week, with an average 0.8 point, down from last week when it averaged 2.90 percent. A year ago, the 5-year ARM averaged 3.72 percent.
1-year Treasury-indexed ARM averaged 2.78 percent this week with an average 0.6 point, unchanged from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 3.22 percent.

Posted in Market Trends, Real Estate Investing

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