Thursday, April 09, 2015

Freddie Mac: 30 Year Mortgage Rates decrease to 3.66% in Latest Weekly Survey

by Bill McBride on 4/09/2015 03:01:00 PM

From Freddie Mac today: Mortgage Rates Lower on Weak Jobs Report

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving lower following a weaker than expected jobs report for March. ...

30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.6 point for the week ending April 9, 2015, down from last week when it averaged 3.70 percent. A year ago at this time, the 30-year FRM averaged 4.34 percent.

15-year FRM this week averaged 2.93 percent with an average 0.6 point, down from last week when it averaged 2.98 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
Mortgage rates Click on graph for larger image.

This graph shows the 30 year and 15 year fixed rate mortgage interest rates from the Freddie Mac Primary Mortgage Market Survey®.  

30 year mortgage rates are up a little (31 bps) from the all time low of 3.35% in late 2012, but down from 4.34% a year ago. 

The Freddie Mac survey started in 1971. Mortgage rates were below 5% back in the 1950s.