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Mortgage Rates in U.S. Uptick in Late April

Mortgage Rates in U.S. Uptick in Late April

Residential News » North America Residential News Edition | By WPJ Staff | April 25, 2014 9:00 AM ET



According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average U.S. fixed rate mortgage followed an uptick in the 10-year Treasury note and amid a week of soft housing data.

Freddie Mac chief economist Frank Nothaft said, "Mortgage rates edged up following the uptick in the 10-year Treasury note late last week. Existing home sales were essentially flat with a 0.2 percent decline in March to a seasonally adjusted annual rate of 4.59 million. However, new home sales fell nearly 15 percent in March to an annual rate of 384,000, well below consensus."

Freddie Mac Report Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.33 percent with an average 0.6 point for the week ending April 24, 2014, up from last week when it averaged 4.27 percent. A year ago at this time, the 30-year FRM averaged 3.40 percent.
  • 15-year FRM this week averaged 3.39 percent with an average 0.6 point, up from last week when it averaged 3.33 percent. A year ago at this time, the 15-year FRM averaged 2.61 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.03 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.58 percent.
  • 1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.62 percent.


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