Home Loan Interest Rates Inch Higher This Week

Average fixed-rate mortgages moved slightly higher this week. Freddie Mac noted in its weekly mortgage market survey that borrowers enjoy historical low rate mortgages.

Freddie Mac reports the following national averages for the week ending April 30:

  • 30-year fixed-rate mortgages averaged 3.68 percent, with an average 0.6 point, rising from last week’s 3.65 percent average. A year ago, 30-year rates averaged 4.29 percent.
  • 15-year fixed-rate mortgages averaged 2.94 percent, with an average 0.6 point, increasing from last week’s 2.92 percent average. Last year at this time, 15-year rates averaged 3.38 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 2.85 percent, with an average 0.5 point, rising from last week’s 2.84 percent average. A year ago, 5-year ARMs averaged 3.05 percent.

Source: Freddie Mac