Fannie Mae: Don't expect 2015 to be a breakout year for housing

Stop panicking about recent foreclosure numbers

The sky is not falling

Sen. Warren accuses FHFA’s Watt: “You haven’t helped a single family”

Senator charges FHFA with dereliction on principal reduction
W S
Lending

Mortgage rates fall to 6-month low

30-year fixed rate mortgage down to 4.2%

NAHB
/ Print / Reprints /
| Share More
/ Text Size+

Freddie Mac's mortgage survey shows average fixed mortgage rates eased slightly for the third consecutive week, falling to a six-month low.

“Mortgage rates were little changed amid a week of light economic reports. These lower than expected rates are welcome news with the spring home-buying season underway and may even provide those who haven’t already refinanced possibly a reason to take another look,” said Frank Nothaft, vice president and chief economist at Freddie Mac. “Of the few releases, advanced retail sales rose 0.1% in April, but below the market forecast consensus of a 0.4% increase. Also, the Producer Price Index for final demand rose 0.6% in April which followed a 0.5% boost from the prior month.”

The 30-year fixed-rate mortgage averaged 4.2% with an average 0.6 point for the week ending May 15, 2014, down from last week when it averaged 4.21%. A year ago at this time, the 30-year FRM averaged 3.51%. 

The 15-year FRM this week averaged 3.29% with an average 0.6 point, down from last week when it averaged 3.32%. A year ago at this time, the 15-year FRM averaged 2.69%. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.01% this week with an average 0.4 point, down from last week when it averaged 3.05%. A year ago, the 5-year ARM averaged 2.62%.

This week the 1-year Treasury-indexed ARM averaged 2.43% with an average 0.5 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.55%. 

Recent Articles by Trey Garrison

Comments powered by Disqus