My Real Estate Blog

30-year fixed-rate mortgage rate was down from last week when it averaged 4.88%. Last year at this time, the 30-year averaged 4.96%.

15-year this week averaged 3.97% with an average 0.7 point, down from last week when it averaged 4.15%. A year ago at this time, the 15-year averaged 4.33%.

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.57% this week, with an average 0.6 point, down from last week when it averaged 3.73%. A year ago, the 5-year averaged 4.09%.

With the crisis in Japan, investors rushed to buy the security of U.S. Treasury bonds which lowered its yields and other interest rates as well. This allowed fixed mortgage rates to drift lower this week.

Families have been strengthening their balance sheets. In the fourth quarter of 2010, household net worth rose by $2.1 trillion, boosted by gains in the stock market. This helped lower their financial obligation ratio to the lowest level since the first quarter of 1995.