The 30-year fixed-rate mortgage continues to drop this week, setting a new low for 2017, Freddie Mac reports in its weekly mortgage market survey. For the fourth consecutive week rates have fallen.
Freddie Mac reports the following national averages for the week ending April 13, 2017:
- 30-year fixed-rate mortgages averaged 4.08 percent, with an average 0.5 point, falling from last week’s 4.10 percent average. A year ago, 30-year rates averaged 3.58 percent.
- 15-year fixed-rate mortgages averaged 3.34 percent, with an average 0.5 point, falling slightly from last week’s 3.36 percent average. Last year at this time, 15-year rates averaged 2.86 percent.
- 5-year hybrid adjustable-rate mortgages averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.19 percent average. A year ago, 5-year ARMs averaged 2.84 percent.
Source: Freddie Mac