Yesterday, Freddie Mac released their weekly mortgage rate survey revealing that mortgage rates trended lower last week following the weaker than expected March Jobs Report.
From the PMMS Report:
- 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.6 point for the week ending April 9, 2015, down from last week when it averaged 3.70 percent. A year ago at this time, the 30-year FRM averaged 4.34 percent.
- 15-year FRM this week averaged 2.93 percent with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week with an average 0.5 point, down from last week when it averaged 2.92 percent. A year ago, the 5-year ARM averaged 3.09 percent.
- 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.41 percent.
Keep in mind, this data is from last week and the only way to lock in a mortgage rate from last week is if rates happen to be at the same price. Mortgage rates change constantly – sometimes several times a day depending on the markets.
If I can provide you with a mortgage rate quote for a purchase or refinance of a home located anywhere in Washington state, please contact me!
Please leave a reply