Freddie Mac’s most recent Primary Mortgage Market Survey shows an increase in average mortgage rates for the first time in five weeks.
“The 10-year Treasury yield rose about 10 basis points this week. The 30-year mortgage rate moved with Treasury yields, rising 6 basis points to 4.03 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Despite recent swings in mortgage rates, the housing market continues to show signs of strength—both existing and new home sales in March exceeded expectations, and the Case-Shiller Home Price Index posted another solid gain.”
Here’s a look at Freddie Mac’s survey findings for the week ending April 27:
- The 30-year fixed-rate mortgage averaged 4.03 percent, with an average 0.5 point, up from the previous week when it averaged 3.97 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.66 percent.
- The 15-year fixed-rate mortgage averaged 3.27 percent, with an average 0.5 point, up from the previous week when it averaged 3.23 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.89 percent.
- The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.12 percent, with an average 0.4 point, up from the previous week when it averaged 3.10percent. A year ago, the five-year adjustable-rate mortgage averaged 2.86 percent.