GET YOUR FREE CUSTOM RATE QUOTE
Mortgage News
If you are unable to view the message below, please click here.
 
 
Kenton Becker
Loan Officer
Office: (206) 423-2552
Email Me
Visit me online
 

NMLS #123961 ,
Washington #MLO-123961

landhome landhome
landhome
Mortgage Rates Edge Down for Second Week

MCLEAN, VA--(Marketwired - Apr 11, 2013) - Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage rates edging down for the second consecutive week following weak employment reports. The average 30-year fixed-rate mortgage at 3.43 percent this week remains near its 65-year record low and continues to provide support for the housing recovery.

  • 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.8 point for the week ending April 11, 2013, down from last week when it averaged 3.54 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.
  • 15-year FRM this week averaged 2.65 percent with an average 0.7 point, down from last week when it averaged 2.74 percent. A year ago at this time, the 15-year FRM averaged 3.11 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.62 percent this week with an average 0.5 point, down from last week when it averaged 2.65 percent. A year ago, the 5-year ARM averaged 2.85 percent.
  • 1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, down from last week when it averaged 2.63 percent. At this time last year, the 1-year ARM averaged 2.80 percent.
 
graph
 

According to Frank Nothaft, vice president and chief economist, Freddie Mac:

"Mortgage rates fell further this week following a lackluster employment report for March. The economy added just 88,000 net new jobs last month, about one-third as many as February and the fewest since June 2012. In addition, approximately 496,000 people left the workforce causing the unemployment rate to fall to 7.6 percent. Further, average hourly earnings were unchanged in March, indicating income growth remains tepid."

©2013 Freddie Mac

landhome
tagline
You are receiving this communication because of an existing and/or past 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.  

Real Estate Articles

(Choose Month From List Below)


2013

October

September

August

July

June

May

April

March

February


2012

October