by Bill McBride on 4/09/2015 03:01:00 PM
Thursday, April 09, 2015
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. ...Click on graph for larger image.
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.
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.
Posted by Bill McBride on 4/09/2015 03:01:00 PM