Freddie Mac‘s(OTCQB: FMCC) Primary Mortgage Market Survey®, out Thursday, showed that fixed mortgage rates rose for the third consecutive week.
Said Sam Khater, Freddie Mac’s chief economist, “After dropping dramatically in late March, mortgage rates have modestly increased since then. While this week marks the third consecutive week of rises, purchase activity reached a nine-year high – indicative of a strong spring home buying season.”
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.17% with an average 0.5 point for the week ending April 18, 2019, up from last week when it averaged 4.12%. A year ago at this time, the 30-year FRM averaged 4.47%.
- 15-year FRM this week averaged 3.62% with an average 0.5 point, up from last week when it averaged 3.60%. A year ago at this time, the 15-year FRM averaged 3.94%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.78% with an average 0.3 point, down from last week when it averaged 3.80%. A year ago at this time, the 5-year ARM averaged 3.67%.
