Mortgage Rates Inch Up for the Week
April 20, 2012
After reaching or hovering near all-time lows last week, fixed-rate mortgages edged up slightly during the week, Freddie Mac reports in its weekly mortgage market survey. The 5-year adjustable-rate mortgage, however, hit a new all-time low of 2.78 percent this week.
Here’s a closer look at average mortgage rates from Freddie Mac for the week ending April 19:
- 30-year fixed-rate mortgages: averaged 3.90 percent, with an average 0.8 point, up slightly from last week’s 3.88 percent average. A year ago at this time, 30-year rates averaged 4.80 percent.
- 15-year fixed-rate mortgages: averaged 3.13 percent, with an average 0.7 point, rising after last week’s all-time low of 3.11 percent. Last year at this time, 15-year rates averaged 4.02 percent.
- 5-year ARMs: averaged a new all-time low of 2.78 percent this week, with an average 0.7 point, dropping from last week’s 2.85 percent average. The 5-year ARMs previous record low was 2.80 percent, which was reached during the first week of February. Last year at this time, 5-year ARMs averaged 3.61 percent.
- 1-year ARMs: averaged 2.81 percent, with an average 0.6 point, rising slightly from last week’s 2.80 percent average. A year ago at this time, 1-year ARMs averaged 3.16 percent.
Source: Freddie Mac
Updated: January 17, 2020