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Fixed-rate mortgages climbed this week after signs of stronger consumer spending, Freddie Mac reports in its weekly mortgage market survey.

Here are the national averages for mortgage rates for the week ending May 16:

• 30-year fixed-rate mortgages averaged 3.51 percent, with an average 0.7 point, increasing from last week’s 3.42 percent average. A year ago at this time, 30-year rates averaged 3.79 percent.
• 15-year fixed-rate mortgages averaged 2.69 percent, with an average 0.7 point, rising from last week’s 2.61 percent average. Last year at this time, 15-year rates averaged 3.04 percent.
• 5-year adjustable-rate mortgages averaged 2.62 percent, with an average 0.5 point, rising from last week’s 2.58 percent average. Last year at this time, 5-year ARMs averaged 2.83 percent.

Source: Freddie Mac

For the first time in six weeks, fixed-rate mortgages reversed course and climbed higher this week, Freddie Mac reports in its weekly market survey.

“Fixed mortgage rates edged up following a solid employment report for April,” says Frank Nothaft, Freddie Mac’s chief economist. “The economy gained 165,000 new jobs on net last month, more than the market consensus forecast and the largest monthly increase this year.”

Freddie Mac reports the following national averages with mortgage rates for the week ending May 9:

• 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.7 point, rising from last week’s 3.35 percent average. A year ago at this time, 30-year rates averaged 3.83 percent.
• 15-year fixed-rate mortgages: averaged 2.61 percent, with an average 0.7 point, rising from last week’s 2.56 percent average. Last year at this time, 15-year rates averaged 3.05 percent.
• 5-year adjustable-rate mortgages: averaged 2.58 percent this week, with an average 0.5 point, climbing from last week’s 2.56 percent average. Last year at this time, 5-year ARMs averaged 2.81 percent.

Source: Freddie Mac

Fixed-rate mortgages pushed lower for the fifth-consecutive week, with low mortgage rates further driving the housing recovery over the near term, says Frank Nothaft, Freddie Mac’s chief economist.

This week, the 30-year fixed-rate mortgage hovered near its all-time record low, while 15-year rates set a new record.

Freddie Mac reports the following national averages with mortgage rates for the week ending May 2, 2013:

• 30-year fixed-rate mortgages: averaged 3.35 percent, with an average 0.7 point, just shy of its 3.31 percent record set during the week of Nov. 21, 2012. A year ago at this time, 30-year rates averaged 3.84 percent.
• 15-year fixed-rate mortgages: sank to an all-time record low of 2.56 percent, with an average 0.7 point, dropping from last week’s previous record of 2.61 percent. Last year at this time, 15-year rates averaged 3.07 percent.
• 5-year adjustable-rate mortgages: averaged 2.56 percent, with an average 0.5 point, dropping from last week’s 2.58 percent average. Last year at this time, 5-year ARMs averaged 2.85 percent.

Source: Freddie Mac

Mortgage applications climbed 2 percent last week as several key interest rates dropped, the Mortgage Bankers Association reports.

Mortgage applications for refinancing, which make up the biggest bulk of MBA’s index, rose 3 percent for the week ending April 26, reaching its highest level since January. Meanwhile, mortgage applications for home purchases fell last week by 1.4 percent compared to a week earlier.

“Low interest rates have attracted new buyers and persuaded many home owners to refinance their mortgages,” Dow Jones reports. “However, tightened credit restrictions still bar many borrowers from filing loan applications.”

The 30-year fixed-rate mortgage averaged 3.6 percent last week, its lowest rate since December, MBA reports.

Source: “U.S. Mortgage Applications Up 2%,” Dow Jones Newswires (May 1, 2013)

The 15-year fixed-rate mortgage reached a new all-time record low this week, averaging 2.61 percent, Freddie Mac reports in its weekly mortgage market survey. The 5-year adjustable-rate mortgage also reached a new record low this week of 2.58 percent.

This marked the fourth-consecutive week mortgage rates inched lower.

“The housing market is getting a boost with mortgage rates hovering at or near record lows,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for mortgage rates for the week ending April 25:

• 30-year fixed-rate mortgages: averaged 3.40 percent, with an average 0.8 point, dropping from last week’s 3.41 percent average. A year ago at this time, 30-year rates averaged 3.88 percent.
• 15-year fixed-rate mortgages: averaged the new low of 2.61 percent, with an average 0.7 point. The previous record low for 15-year rates was set the week of Nov. 21, 2012, when 15-year rates averaged 2.63 percent. A year ago at this time, 15-year rates averaged 3.12 percent.
• 5-year adjustable-rate mortgages: also averaged a new all-time record low of 2.58 percent this week, with an average 0.5 point, dropping from last week’s 2.60 percent average. Last year at this time, 5-year ARMs averaged 2.85 percent.

Source: Freddie Mac

Average fixed-rate mortgages moved lower this week amid data showing weaker consumer spending, Freddie Mac reports in its weekly mortgage survey. It marked the third-consecutive week that mortgage rates went down.

Freddie Mac reports the following national averages in rates for the week ending April 18:

• 30-year fixed-rate mortgages: averaged 3.41 percent, with an average 0.7 point, dropping from last week’s 3.43 percent average. A year ago at this time, 30-year rates averaged 3.90 percent.
• 15-year fixed-rate mortgages: averaged 2.64 percent, with an average 0.7 point, dropping from last week’s 2.65 percent average. Last year at this time, 15-year rates averaged 3.13 percent.
• 5-year adjustable-rate mortgages: averaged 2.60 percent, with an average 0.5, dropping from last week’s 2.62 percent average. Last year at this time, 5-year ARMs averaged 2.78 percent.

Source: Freddie Mac

Mortgage applications rose 5 percent last week as mortgage rates declined, the Mortgage Bankers Association reported in its weekly mortgage market survey for the week ending April 12, which was released Wednesday.

Applications for refinancing’s, which make up the biggest bulk of the index, rose 5 percent, reaching its highest level since mid-January.

Meanwhile, mortgage applications for home purchases, viewed as a leading indicator of future home sales, ticked up 4 percent for the week, reaching its highest level since May 2010.

MBA reported 30-year fixed-rate mortgages, which are the most popular choice among home buyers, saw rates drop slightly last week averaging 3.67 percent, compared to 3.68 percent the prior week.

Source: “U.S. Mortgage Applications Rose 5% Last Week – MBA,” The Wall Street Journal (April 17, 2013)

For the second consecutive week, fixed-rate mortgages edged down, providing  support for the housing recovery, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at rates for the week ending April 11:

• 30-year fixed-rate mortgages: averaged 3.43 percent, with an average 0.8 point, dropping from last week’s 3.54 percent average. A year ago at this time, 30-year rates averaged 3.88 percent.
• 15-year fixed-rate mortgages: averaged 2.65 percent, with an average 0.7 point, falling from last week’s 2.74 percent average. Last year at this time, 15-year rates averaged 3.11 percent.
• 5-year adjustable-rate mortgages: averaged 2.62 percent, with an average 0.5 point, dropping from last week’s 2.65 percent average. Last year at this time, the 5-year ARM averaged 2.85 percent.

Source: Freddie Mac

Average fixed-rate mortgages dropped this week, as the 30-year fixed-rate mortgage has hovered around 3.5 percent for the past two months, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages for mortgage rates for the week ending April 4:

• 30-year fixed-rate mortgages: averaged 3.54 percent, with an average 0.8 point, dropping from last week’s 3.57 percent average. A year ago at this time, 30-year rates averaged 3.98 percent.
• 15-year fixed-rate mortgages: averaged 2.74 percent, with an average 0.7 point, dropping from last week’s 2.76 percent average. Last year at this time, 15-year rates averaged 3.21 percent.
• 5-year adjustable-rate mortgages: averaged 2.65 percent, with an average 0.5 point, falling from last week’s 2.68 percent average. Last year at this time, 5-year ARMs averaged 2.86 percent.

Source: Freddie Mac

Mortgage rates moved slightly higher this week, but still remain low by historical standards and are providing support to the ongoing housing recovery, Freddie Mac reports in its weekly mortgage market survey.

“Low and relatively steady mortgage rates are invigorating the housing market,” says Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages for mortgage rates for the week ending March 28:

• 30-year fixed-rate mortgages: averaged 3.57 percent, with an average 0.8 point, rising from last week’s 3.54 percent average. A year ago at this time, 30-year rates averaged 3.99 percent. The 30-year fixed-rate mortgage has remained below 4 percent for more than a year.
• 15-year fixed-rate mortgages: averaged 2.76 percent, with an average 0.7 point, rising from last week’s 2.72 percent average. Last year at this time, 15-year rates averaged 3.23 percent.
• 5-year adjustable-rate mortgages: averaged 2.68 percent, with an average 0.6 point, rising from last week’s 2.61 percent average. Last year at this time, 5-year ARMs averaged 2.90 percent.

Source: Freddie Mac