Good news for home buyers and people who want to refinance their loans is that MORTGAGE RATES are back down this week.
Freddie Mac reports the following national averages for mortgage rates for the week ending April 4:
- 30-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.8 point, dropping from last week’s 3.57 percent average. A year ago at this time, 30-year rates averaged 3.98 percent.
- 15-year fixed-rate mortgages: averaged 2.74 percent, with an average 0.7 point, dropping from last week’s 2.76 percent average. Last year at this time, 15-year rates averaged 3.21 percent.
- 5-year adjustable-rate mortgages: averaged 2.65 percent, with an average 0.5 point, falling from last week’s 2.68 percent average. Last year at this time, 5-year ARMs averaged 2.86 percent.
- 1-year ARMs: averaged 2.63 percent, with an average 0.4 point, rising from last week’s 2.62 percent average. A year ago, 1-year ARMs averaged 2.78 percent.
Source is Freddie Mac and Daily Real Estate News, National Association of Realtors, April 5, 2013, and this is for information only and is not the providing of legal or tax services.
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