Mortgage Rates Remain Below the Four Percent Mark for Second Consecutive Week – NMP Skip to main content

Mortgage Rates Remain Below the Four Percent Mark for Second Consecutive Week

NationalMortgageProfessional.com
Apr 05, 2012

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) for the week ending April 5, 2012, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point, down from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.87 percent. Rates remain below the four percent mark for the second consecutive week. The 15-year FRM averaged 3.21 percent for the week 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. "Average weekly mortgage rates were little changed this week amid mixed signals on the health of the economy," said Frank Nothaft, vice president and chief economist with Freddie Mac. "The final estimate of 2011 fourth quarter growth remained unchanged at three percent, representing the strongest pace since the second quarter of 2010. The March 13th policy committee minutes from the Federal Reserve noted that the housing market remained depressed and supported the continuation of the maturity extension program through June 2012, but did not announce any new stimulus action beyond that date." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86 percent for the week, with an average 0.8 point, down from last week when it averaged 2.90 percent. Last year at this time, the five-year ARM averaged 3.72 percent. Also this week, the one-year Treasury-indexed ARM averaged 2.78 percent, with an average 0.6 point, unchanged from last week when it averaged 2.78 percent. At this time last year, the one-year ARM averaged 3.22 percent.
Published
Apr 05, 2012
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021