Financial Planning News, 30 Year Fixed Rates Mortgage Remain Under 5%
Report from Weekly Mortgage Rates Survey from Freddie Mac.
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rates mortgage (FRM) averaged 4.87 percent with an average 0.7 point for the week ending April 9, 2009, up from last week when it averaged 4.78 percent.
The 15-year FRM this week averaged 4.54 percent with an average 0.7 point, up from last week when it averaged 4.52 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.93 percent this week, with an average 0.7 point, up from last week when it averaged 4.92 percent.
One-year Treasury-indexed ARMs averaged 4.83 percent this week with an average 0.5 point, up from last week when it averaged 4.75 percent.
“Mortgage rates rose slightly this week but still remained historically low,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Interest rates for 30-year fixed-rate mortgages have averaged below 5.0 percent for the last four weeks, which should keep homeowner affordability at record levels.
“Given these low rates, housing demand has strengthened. Conventional mortgage applications both for refinancing and for home buys have increased over the past five consecutive weeks ending April 3. Since the end of February, applications for home buys were up about 22 percent and nearly 129 percent for refinancing, according to the Mortgage Bankers Association.”
So, what are you waiting for? If you have a plot to buy a home, then you can start to find it raight now, when the mortgage rates still low. Or you can refinancing your mortgage. Start it right now here!
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Tags: 15 Year Fixed Rate Mortgage, 30 Year Fixed Rates Mortgage, 5 year Treasury-indexed hybrid adjustable-rate mortgages, conventional mortgage applications, Financial News, Financial planning news, FRM, mortgage applications, mortgage rates, One-year Treasury-indexed ARM, refinancing mortgageTags: 15 Year Fixed Rate Mortgage, 30 Year Fixed Rates Mortgage, 5 year Treasury-indexed hybrid adjustable-rate mortgages, conventional mortgage applications, Financial planning news, FRM, mortgage applications, mortgage rates, One-year Treasury-indexed ARM, refinancing mortgage
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