Skip to main content

Mixed Housing Reports Drive Fixed-Rates Slightly Upward

NationalMortgageProfessional.com
Apr 30, 2015

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing the average fixed-rate mortgages (FRMs) slightly higher amid mixed housing and economic reports. This week, the 30-year FRM averaged 3.68 percent with an average 0.6 point for the week ending April 30, 2015, up from last week when it averaged 3.65 percent. A year ago at this time, the 30-year FRM averaged 4.29 percent. The 15-year FRM this week averaged 2.94 percent with an average 0.6 point, up from last week when it averaged 2.92 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent. 

"Mortgage rates were up slightly following a week of mixed economic releases," said Len Kiefer, deputy chief economist, Freddie Mac. "Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter of 2015, 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."

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week with an average 0.5 point, up from last week when it averaged 2.84 percent. A year ago, the five-year ARM averaged 3.05 percent. The one-year Treasury-indexed ARM averaged 2.49 percent this week with an average 0.4 point, up from last week when it averaged 2.44 percent. At this time last year, the one-year ARM averaged 2.45 percent. 

Published
Apr 30, 2015
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022