Michael Antonucci
701 W. Market Street
Perkasie, PA18944
Phone: 215-453-7653 1174
Office: 215-453-7653
Cell: 267-664-5376
Fax: 267-354-6234
email: mantonucci@remax440.com
RE/MAX 440
Michael Antonucci

< Back to My Blog

30-Year Fixed-Rate Mortgage Unchanged

April 4, 2016 4:48 am

Mortgage rates remain largely unchanged, albeit mixed, following a Federal Reserve update last week, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate mortgage (FRM) stands at 3.71 percent, with an average 0.5 point, and the 15-year FRM averages 2.98 percent, with an average 0.4 point.

“Dovish comments by Federal Reserve Chair Janet Yellen on Tuesday triggered a rally in Treasury markets and drove the 10-year yield down 13 basis points from [the previous] week's high,” says Sean Becketti, chief economist at Freddie Mac. “Yellen's comments came too late to affect this week's mortgage rate survey, and the 30-year mortgage rate remained unchanged at 3.71 percent. However, if the Fed's cautious tone persists, mortgage rates may register the impact in subsequent weeks.”

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averages 2.90 percent, with an average 0.5 point, the survey reports.

Source: Freddie Mac

Published with permission from RISMedia.

Add a comment


Facebook