The 30-year fixed-rate mortgage (FRM) averaged 4.03 percent, up from last week when it averaged 3.97 percent. The 15-year FRM this week averaged 3.27 percent, up from last week when it averaged 3.23 percent. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12 percent this week, up from last week when it averaged 3.10 percent.
“Despite recent swings in mortgage rates, the housing market continues to show signs of strength—both existing and new home sales in March exceeded expectations, and the Case-Shiller Home Price Index posted another solid gain,” said Freddie Mac Chief Economist Sean Becketti.
Separately, the Federal Housing Finance Agency (FHFA) reported that the average interest rate on all mortgage loans in March was 4.12 percent, down from 4.25 percent in February. The average loan amount for all loans was $312,700 in March, up $11,100 from $301,600 in February.