Fixed Mortgage Rates Edge Slightly Higher
April 19, 2012
Average fixed mortgage rates held relatively stable this week amid signs that inflation remains in check, according to the latest Freddie Mac Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.8 point for the week ending April 19, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent. Meanwhile, the 15-year FRM averaged 3.13 percent with an average 0.7 point, up from last week when it averaged 3.11 percent. A year ago at this time, the 15-year FRM averaged 4.02 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78 percent with an average 0.7 point, down from last week when it averaged 2.85 percent. This is a new all-time low, which was previously set the first week of February 2012 when it averaged 2.8 percent. A year ago, the 5-year ARM averaged 3.61 percent.
The 1-year Treasury-indexed ARM averaged 2.81 percent with an average 0.6 point, up from last week when it averaged 2.80 percent. At this time last year, the 1-year ARM averaged 3.16 percent.