My Real Estate Blog

April 8th, 2011 5:53 AM
 Freddie Mac today released the results of its Primary Mortgage Market Survey which shows the 30-year fixed-rate inching upward for the third consecutive week to 4.87% but well below its average of 5.21% a year ago, the highest it had been since August 13, 2009.
 

15-year this week averaged 4.10% with an average 0.7 point, up from last week when it averaged 4.09%. A year ago at this time, the 15-year averaged 4.52%.  

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.72% this week, with an average 0.6 point, up from last week when it averaged 3.70%. A year ago, the 5-year ARM averaged 4.25%.

Mortgage rates were little changed after an encouraging employment report from the Bureau of Labor Statistics. The economy added 216,000 jobs in March and the unemployment rate fell for the fifth consecutive month to 8.8% marking the lowest rate in two years. Additionally, the private sector has gained 560,000 workers in the first quarter of this year, which represents the largest quarterly increase since the first quarter of 2006.

Posted by Jim McCowan on April 8th, 2011 5:53 AMPost a Comment (0)
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