Fixed rates up slightly

by Ryan Smith03 Apr 2014
Fixed mortgage rates edged up slightly this week, according to data released today by Freddie Mac.

“Mortgage rates were little changed amid a week of light economic reports. Of the few releases, real GDP was revised up slightly to 2.6 percent growth in the fourth quarter of 2013. The private sector added an estimated 191,000 jobs in March, which followed an upward revision of 39,000 jobs in February according to the ADP Research Institute. Also, the Institute for Supply Management reported the manufacturing industry rebounded from a soft February but was still below market consensus.”

The 30-year fixed-rate mortgage averaged 4.41% this week, up slightly from last week’s average of 4.40%. Last year at this time, the 30-year FRM averaged 3.54%.

The 15-year FRM averaged 3.47%, up from last week’s 3.42%. Last year at this time, the 15-year FRM averaged 2.74%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.12%, up from last week’s average of 3.10%. Last year at this time, the 5-year ARM averaged 2.65%.

The 1-year Treasury-indexed ARM was also up slightly, rising to 2.45% from last week’s 2.44%. A year ago, the 1-year ARM averaged 2.63%.
 

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