Home Loan Interest Rates are Barely Moving?

Mortgage rates were mostly in a holding pattern last week, which may have been welcome news to borrowers after the previous week’s uptick.

Freddie Mac reports the following national averages for the week ending May 4:

  • 30-year fixed-rate mortgages averaged 4.02 percent, with an average 0.5 point, falling slightly from last week’s 4.03 percent average. Last year at this time, 30-year rates averaged 3.61 percent.
  • 15-year fixed-rate mortgages averaged 3.27 percent, with an average 0.5 point, the same average as last week. A year ago, 15-year rates averaged 2.86 percent, ARMs averaged 2.80 percent.

Source: Freddie Mac

Mortgage Rates Stay Near Yearly Lows

For the third consecutive week, the 30-year fixed-rate mortgage held steady, with borrowing costs for home buyers and refinancers remaining near its lows for the year.

Freddie Mac reports the following national averages for the week ending Sept. 4:

  • 30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, holding the same as last week. Last year at this time, 30-year rates averaged 4.57 percent.
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.5 point, dropping from last week’s 3.25 percent average. A year ago, 15-year rates averaged 3.59 percent.
  •  5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, holding the same average from last week. Last year at this time, 5-year ARMs averaged 3.28 percent.

Source: Freddie Mac