According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.90 percent (0.8 point) for the week ending April 19, up from last week’s average of 3.88 percent, and down from last year at this time when the 30-year rate was 4.80 percent.
The 15-year fixed rose to 3.13 percent (0.7 point); last week the 15-year averaged 3.11 percent and 4.02 percent a year ago at this time.
The 5-year ARM hit a new low at 2.78 percent (0.7 point), down from 2.85 percent from last week and 3.61 percent a year ago.
The 1-year ARM moved up to 2.81 percent (0.6 point) compared to last week’s 2.80 percent. Last year at this time, the 1-year ARM averaged 3.16 percent.
Bankrate’s survey, which pulls data provided by the top 10 banks and thrifts in the top 10 markets, reported the 30-year fixed rate dropped to 4.10 percent, down from 4.11 percent the prior week. The 15-year fixed 3.32 percent remained unchanged, while the 5-year ARM averaged 3.05 percent, up from 3.03 percent the week before.
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