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Kenton Becker
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NMLS #123961 ,
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Mortgage Rates Dip Lower

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates dipping for the week amid recent data which indicates the manufacturing industry is slowing. The average 30-year fixed-rate mortgage has seesawed around 3.5 percent for the past two months, providing ongoing help to the housing recovery.

  • 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.8 point for the week ending April 4, 2013, down from last week when it averaged 3.57 percent. Last year at this time, the 30-year FRM averaged 3.98 percent.
  • 15-year FRM this week averaged 2.74 percent with an average 0.7 point, down from last week when it averaged 2.76 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.65 percent this week with an average 0.5 point, down from last week when it averaged 2.68 percent. A year ago, the 5-year ARM averaged 2.86 percent.
  • 1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.4 point, up from last week when it averaged 2.62 percent. At this time last year, the 1-year ARM averaged 2.78 percent.
 
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According to Frank Nothaft, vice president and chief economist, Freddie Mac:

"Fixed mortgage rates dipped slightly while the manufacturing industry showed signs of slowing. Regionally, both the Chicago [PDF] and Milwaukee purchasing manager reports for March fell below the market consensus forecast. On a national scale, both the ISM manufacturing and non-manufacturing indexes also showed reductions in growth."

©2013 Freddie Mac

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4-08-13. You are receiving this communication because of an existing and/or past valued business relationship, or because you have consented to receive communications from Land Home. Equal Housing Opportunity Lender. Rates, Program, Fees, and Guidelines are subject to change without notice. Not a commitment to lend. Land Home only conducts business in states we are approved to. Land Home Financial Services, 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan License #CL-89331. NMLS ID # 89331. Kenton Becker Licenses: NMLS #123961; Washington #MLO-123961.  

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