Mortgage Rates Continue Downward Trend, Hit 4.27 Percent for the Week – NMP Skip to main content

Mortgage Rates Continue Downward Trend, Hit 4.27 Percent for the Week

NationalMortgageProfessional.com
Apr 17, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates easing further for the second consecutive week helping to increase homebuyer affordability at the onset of the spring home buying season. For the week ending April 17, the 30-year fixed-rate mortgage (FRM) averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.34 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent. Also this week, the 15-year FRM averaged 3.33 percent with an average 0.6 point, down from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 2.64 percent.  "Mortgage rates continued to ease this week as housing starts rose 2.8 percent in March, but not as much as expected," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Also, permits fell 2.4 percent in March to a seasonally adjusted annual rate of 990,000, which followed a slight downward revision of 4,000 permits in February." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.03 percent this week with an average 0.5 point, down from last week when it averaged 3.09 percent. A year ago, the five-year ARM averaged 2.60 percent. The one-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.5 point, up from last week when it averaged 2.41 percent. At this time last year, the one-year ARM averaged 2.63 percent.  
Published
Apr 17, 2014
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
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