Mortgage Rates Staying Near Yearly Lows

Home buyers and owners can still lock in low mortgage rates. Freddie Mac reports in its weekly mortgage market survey that rates mostly remained unchanged this week.

“Volatility in financial markets subsided over the past week, allowing Treasury yields to stabilize,” says Sean Becketti, Freddie Mac’s chief economist. “As a result, the 30-year mortgage rate was mostly flat, up only 1 basis point to 3.59 percent. The release of March’s existing-home sales report, which shows monthly growth at 5.1 percent, suggests home buyers are taking advantage of low mortgage rates.”

Freddie Mac reports the following national averages for the week ending April 21:

30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.6 point, rising from last week’s 3.58 percent average. A year ago, 30-year rates averaged 3.65 percent.

15-year fixed-rate mortgages: averaged 2.85 percent, with an average 0.5 point, falling from last week’s 2.86 percent average. Last year at this time, 15-year rates averaged 2.92 percent.

Source: Freddie Mac