Freddie Mac released Thursday the results of its latest weekly Primary Mortgage Market Survey, showing the average rate on a 30-year fixed-rate mortgage (FRM) coming up to 4.41 percent (0.7 point) for the week ending April 3—a minor increase from 4.40 percent last week. A year ago at this time, the 30-year FRM averaged 3.54 percent.
The 15-year FRM was up slightly higher, averaging 3.47 percent (0.6 point) from 3.42 percent a week ago.
Changes in adjustable rates were also small: The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12 percent (0.5 point) this week, up from 3.10 percent previously, while the 1-year ARM moved up to 2.45 percent (0.4 point) from 2.44 percent.
“Mortgage rates were little changed amid a week of light economic reports,” said Frank Nothaft, VP and chief economist for Freddie Mac. “Of the few releases, real GDP was revised up slightly to 2.6 percent growth in the fourth quarter of 2013.”
Meanwhile, finance website Bankrate.com reported the 30-year fixed rate at an average 4.54 percent for the week (up 3 basis points), with the 15-year fixed settling at 3.58 percent (up 2 basis points).
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