Freddie Mac's (OTCQB: FMCC)s Primary Mortgage Market Survey® (PMMS®) on Thursday reported that rates rose modestly this week with the 30-year fixed-rate averaging 4.12%.
Said Sam Khater, Freddie Mac’s chief economist, “Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating borrower sensitivity to changing mortgage rates. Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting home buyer demand in the next few months.”
- 30-year fixed-rate mortgage (FRM) averaged 4.12% with an average 0.5 point for the week ending April 11, 2019, up from last week when it averaged 4.08%. A year ago at this time, the 30-year FRM averaged 4.42%.
- 15-year FRM this week averaged 3.60% with an average 0.4 point, up from last week when it averaged 3.56%. A year ago at this time, the 15-year FRM averaged 3.87%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.80% with an average 0.4 point, up from last week when it averaged 3.66%. A year ago at this time, the 5-year ARM averaged 3.61%.