Mortgage Rates Hit Lowest Mark of 2017
MCLEAN, VA–(Marketwired – Apr 13, 2017) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017.
30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending April 13, 2017, down from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent.
15-year FRM this week averaged 3.34 percent with an average 0.5 point, down from last week when it averaged 3.36 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.4 point, down from last week when it averaged 3.19 percent. A year ago, the 5-year ARM averaged 2.84 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
|As of 4/13/2017||30-Year Fixed Rate Mortgages||15-Year Fixed Rate Mortgages||5/1-Yr ARM|
|Fees & Points||0.5||0.5||0.4|