Freddie Mac: Mortgage Rates Edged Up Slightly On Mixed Economic Reports

Posted by Patrick Barnard on April 30, 2015 No Comments
Categories : Residential Mortgage

Mortgage rates inched up slightly during the week ended April 30, according to Freddie Mac's Primary Mortgage Market Survey.

The average rate for a 30-year fixed-rate mortgage (FRM) was 3.68%, up from 3.65% the previous week. A year ago at this time, the 30-year FRM averaged 4.29%.

The average rate for a 15-year FRM was 2.94%, up from 2.92% the week prior. A year ago at this time, the 15-year FRM averaged 3.38%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 2.85%, up slightly from 2.84% the previous week. A year ago, the five-year ARM averaged 3.05%.

The average rate for a one-year Treasury-indexed ARM was 2.49%, up from 2.44% the week prior. At this time last year, the one-year ARM averaged 2.45%.

All rates are based on closings and are derived from data flowing through Freddie Mac's securitization platform.

‘Mortgage rates were up slightly following a week of mixed economic releases,’ says Len Kiefer, deputy chief economist for Freddie Mac, in a statement. ‘Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter, 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.’

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