Mortgage Rates Take an Uptick

Apr 27, 2017

Average mortgage rates were on the rise after several weeks in decline, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 26.

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.

About the author

Phil Hall

Link copied

Published

Apr 27, 2017

Analysis and Data

Home Sellers' Q1 Profit Margins Declined Quarterly, Annually

ATTOM reported decrease of 55.3% in the first quarter – the smallest level in more than two years.

ATTOM released its Q1 2024 U.S. Home Sales Report, revealing that profit margins for U.S. home sellers on median-priced single-family home and condo sales in the United States decreased to 55.3% in the first quarter – the smallest level in more than two years. The decline...

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...