Mortgage Rates Again Unchanged
Mortgage rates remained relatively unchanged for the second week in a row, according to a weekly report released today by Freddie Mac.
Freddie Mac chief economist Frank Nothaft said Interest rates for fixed-rate mortgages held firm for the second week in a row as ARMs slipped lower on a possible rate cut at the Fed’s upcoming meeting.
The mortgage financier said the average 30-year fixed-rate mortgage stood at 5.88 percent for the week ending April 17, no different than two weeks ago.
The 15-year fixed mortgage saw modest improvement, dipping to 5.40 percent from 5.42 percent a week earlier.
The average one-year adjustable-rate mortgage fell to 5.10 percent from 5.18 percent a week prior, while the 5/1 ARM averaged 5.48 percent, down from 5.56 percent.
Average lender fees on 30-year and 5/1 ARMs were unchanged from last week, at 0.4 percent and 0.6 percent, respectively.
The average fee charged on a 15-year mortgage climbed to half a point from 0.4 percent, while the fee attached to the average one-year ARM fell to 0.6 percent from 0.7 percent.
A year ago, the 30-year averaged 6.17 percent, the 15-year 5.89 percent ,the one-year ARM 5.45 percent, and the 5/1 ARM averaged 5.92 percent.
(photo: fishhawk)
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