Mortgage Rates Up Fourth Straight Week

MCLEAN, Va. – Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing that fixed mortgage rates posted a fourth consecutive week of increases.

Sam Khater, Freddie Mac’s chief economist, says, “Despite the recent rise in mortgage rates, both existing and new home sales continue to show strength – indicating the lagged effect of lower rates on housing demand. This, along with improved affordability, should push housing activity higher in the coming months.”

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.20 percent with an average 0.5 point for the week ending April 25, 2019, up from last week when it averaged 4.17 percent. A year ago at this time, the 30-year FRM averaged 4.58 percent. 
• 15-year FRM this week averaged 3.64 percent with an average 0.5 point, up from last week when it averaged 3.62 percent. A year ago at this time, the 15-year FRM averaged 4.02 percent. 
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.77 percent with an average 0.4 point, down from last week when it averaged 3.78 percent. A year ago at this time, the 5-year ARM averaged 3.74 percent.

Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.