Friday, April 17, 2015
According to Bankrate.com’s weekly national survey, mortgage rates pulled back this week, with the benchmark 30-year fixed mortgage rate dipping to 3.79 percent and the average 15-year fixed mortgage rate inching lower to 3.03 percent.The jumbo 30-year fixed mortgage set a new record low of 3.90 percent. Adjustable rate mortgages (ARM) were mixed, with the 5-year ARM nosing higher to 3.08 percent and the 10-year ARM drifting down to 3.54 percent.
Mortgage rates are at a 23-month low, a fact which could motivate buyers off the sidelines, particularly with the likelihood of higher rates later in the year. As evidenced by recent uneven data, the cold winter put a chill on the economy. The softness in economic releases continues to keep everyone guessing about the timing of the Federal Reserve interest rate hikes.
Source: Bankrate.com
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