Categories: Real Estate

Mortgage Rates Drop Further

MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.33 percent.

“Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment,” said Sam Khater, Freddie Mac’s Chief Economist. “While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.”

News Facts

  • 30-year fixed-rate mortgage averaged 3.33 percent with an average 0.7 point for the week ending April 2, 2020, down from last week when it averaged 3.50 percent. A year ago at this time, the 30-year FRM averaged 4.08 percent. 

 

  • 15-year fixed-rate mortgage averaged 2.82 percent with an average 0.6 point, down from last week when it averaged 2.92 percent. A year ago at this time, the 15-year FRM averaged 3.56 percent. 

 

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.40 percent with an average 0.3 point, up from last week when it averaged 3.34 percent. A year ago at this time, the 5-year ARM averaged 3.66 percent.
Share
Published by
Staff

Recent Posts

San Marcos City Council reviews Sidewalk Maintenance and Gap Infill Program

The San Marcos City Council received a presentation on the Sidewalk Maintenance and Gap Infill…

2 years ago

San Marcos River Rollers skate on and rebuild

The San Marcos River Rollers have skated through obstacles after taking a two-year break during…

2 years ago

After 8 Years, San Marcos Corridor News Bids Our Readers Farewell

San Marcos Corridor News has been reporting on the incredible communities in the Hays County…

2 years ago

High bacteria levels at Jacobs Well halts swimming season

Visitors won't be able to swim in the crystal clear waters of the Jacobs Well Natural…

2 years ago

Pets of the Week: Meet Sally & Nutella!

Looking to adopt or foster animals from the local shelter? Here are the San Marcos…

2 years ago

Texas still leads in workplace deaths among Hispanics

The Lone Star State leads the nation in labor-related accidents and especially workplace deaths and…

2 years ago

This website uses cookies.