Mortgage Rates Inch Higher This Week
Average fixed-rate mortgages moved slightly higher this week. However, Freddie Mac noted in its weekly mortgage market survey that borrowers continue to enjoy historical lows on 30-year fixed-rate mortgages.
Check out last week's report on mortgage rates.
Freddie Mac reports the following national averages on mortgage rates for the week ending April 30:
- 30-year fixed-rate mortgages averaged 3.68 percent, with an average 0.6 point, rising from last week’s 3.65 percent average. A year ago, 30-year rates averaged 4.29 percent.
- 15-year fixed-rate mortgages averaged 2.94 percent, with an average 0.6 point, increasing from last week’s 2.92 percent average. Last year at this time, 15-year rates averaged 3.38 percent.
- 5-year hybrid adjustable-rate mortgages averaged 2.85 percent, with an average 0.5 point, rising from last week’s 2.84 percent average. A year ago, 5-year ARMs averaged 3.05 percent.
- 1-year ARMs averaged 2.49 percent, with an average 0.4 point, rising from last week’s 2.44 percent. A year ago, 1-year ARMs averaged 2.45 percent.
Source: Freddie Mac