Mortgage rates barely moved for the week ended April 2, 2015 amid mixed economic and housing data and ahead of Friday’s employment report, the latest Freddie Mac Primary Mortgage Survey said.
The 30-year, fixed-rate mortgage averaged 3.70%, slightly up from 3.69% a week ago, but down from 4.41% last year.
The 15-year, fixed-rate mortgages marginally increased to 2.98%, up from 2.97% a week ago. A year ago, the 15-year averaged 3.47%.
In addition, the 5-year Treasury-indexed hybrid adjustable-rate mortgage was unchanged from last week, staying at 2.92%. A year ago, the 5-year ARM averaged 3.12%.
The 1-year Treasury-indexed ARM came in at 2.46%, also unchanged from a week ago. In 2014, it averaged 2.45%.
“Mortgage rates were little changed this week entering April about where we started the year. The final estimate of real GDP growth for the fourth quarter of 2014 was unchanged from the prior estimate of a 2.2% annualized rate. Meanwhile, the National Association of Realtors reported that pending home sales rose 3.1% in February, beating expectations. The pending home sales index was at the highest level since June of 2013 when 30-year fixed mortgage rates averaged 4.07%, 0.37 percentage points higher than this week’s survey,” said Len Kiefer, deputy chief economist with Freddie Mac.
Bankrate reported similar findings, with the 30-year, fixed increasing to 3.82%, up from 3.80% a week ago.
The 15-year, fixed grew to 3.06%, up from 3.04% last week, while the 5/1 ARM jumped to 3.10%, down from 3.14% a week prior.