Freddie Mac Weekly Update: Mortgage Rates Fall With Economic and Housing Reports

Services for Real Estate Pros with

30-year fixed-rate mortgage:
averaged 4.78 percent with an average 0.7 point for the week ending April 28, 2011, down  from last week when it averaged 4.80 percent. Last year at this time, the 30-year FRM averaged 5.06 percent.

The 15-year fixed-rate mortgage:  this week  averaged 3.97 percent with an average 0.7 point, down  from last week when it averaged 4.02 percent.  A year ago at this time, the 15-year FRM averaged 4.39 percent.  

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.51 percent this week, with an average 0.6 point ,  down from last week when it averaged 3.61 percent. A year ago, the 5-year ARM averaged 4.00 percent .

One-year Treasury-indexed ARMs: averaged 3.15 percent this week with an average 0.6 point, downfrom last week when it averaged 3.16 percent. At this time last year, the 1-year ARM averaged 4.25 percent.  

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates followed Treasury bond yields lower this week amid weak local economic data reports on business conditions and house prices. Regional Federal Reserve Banks reported that business and manufacturing activities declined in Philadelphia, Dallas and Richmond in April. In addition, the S&P/Case-Shiller 20-city composite home price index recorded year-over-year declines through February in 19 of the 20 markets.

Declining home prices and a high level of foreclosures continue to affect housing tenure decisions. Between the third quarter of last year and the first quarter of 2011, the housing stock experienced a decline of nearly 400,000 homeowners on net, according to the Census Bureau. However, the National Association of Realtors reported that during the same period there were almost 700,000 first-time homebuyers, which suggests gross losses may have been closer to 1.1 

Thanks For Reading




This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
investment property
home loans
home sellers
home buyers
freddie freddie mac update

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Howard Sobel

Ask me a question
Spam prevention