Industry NewsMortgage

Mortgage rates ease again on economic worries

Fed officials not ruling out more easing
Published on Apr 12, 2012

Mortgage rates slid this week as worries about the economy made mortgage-backed securities that fund most mortgage loans look like a safe bet to investors.Freddie Mac's weekly Primary Mortgage Market Survey showed rates on 15-year fixed-rate loans hitting a new all-time low, and rates for the workhorse 30-year fixed-rate mortgage just above the record low.Rates on 30-year fixed-rate mortgages averaged 3.88 percent with an average 0.7 point for the week ending April 12, down from 3.98 percent last week and 4.91 percent a year ago. Rates on 30-year fixed-rate mortgages hit an all-time low in records dating to 1971 of 3.87 percent during the first three weeks of February.For 15-year fixed-rate mortgages, rates averaged 3.11 percent with an average 0.7 point, down from 3.21 percent last week and 4.13 percent a year ago. That's a new low in Freddie Mac records dating to 1991.Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.85 percent with an average 0....

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