30-year fixed-rate mortgage (FRM) averaged 4.27 percent with an average 0.7 point for the week ending April 17, 2014, down from last week when it averaged 4.34 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.
15-year FRM this week averaged 3.33 percent with an average 0.6 point, down from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 2.64 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.03 percent this week with an average 0.5 point, down from last week when it averaged 3.09 percent. A year ago, the 5-year ARM averaged 2.60 percent.
1-year Treasury-indexed ARM averaged 2.44 percent this week with an average 0.5 point, up from last week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.63 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates continued to ease this week as housing starts [PDF] rose 2.8 percent in March but not as much as expected. Also, permits fell 2.4 percent in March to a seasonally adjusted annual rate of 990,000, which followed a slight downward revision of 4,000 permits in February."