Interest rates on home loans were largely unchanged this week as poor economic news continued to roll in, mortgage financier Freddie Mac said today.
For the week ending April 10, the benchmark 30-year fixed-rate mortgage remained unchanged at 5.88 percent, while the 15-year averaged 5.42 percent for the second week running.
The one-year adjustable-rate mortgage averaged 5.18 percent, down from 5.19 percent a week earlier, and the 5/1 ARM dipped to 5.56 percent from 5.59 percent.
Average fees tied to fixed-rate loans fell during the week from half a point to 0.4 percent on both the 30-year and 15-year, while 0.7 percent was typically charged on the one-year ARM, up from 0.5 percent a week ago.
A year ago, the 30-year averaged 6.22 percent, 15-year 5.90 percent, the one-year ARM 5.47 percent, and the 5/1 ARM averaged 5.93 percent.
(photo: mrthomas)
Related Topics:
