We’ll add more market news briefs throughout the day. Check back to read the latest.
Most recent market news
Thursday, April 19
- The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.25 percent, up six basis points from this time last week.
- The 30-year fixed mortgage rate rose late last week and hovered around 4.27 percent before falling slightly on Tuesday to the current rate.
- The rate for a 15-year fixed home loan is currently 3.68 percent, and the rate for a 5-1 adjustable-rate mortgage (ARM) is 3.73 percent.
- The rate for a jumbo 30-year fixed loan is 4.37 percent.
Current rates for 30-year fixed mortgages by state. Source: Zillow
“Mortgage rates increased last week as the prospect of an expanded conflict in the Middle East flared up around military strikes in Syria, but retreated as a broader conflict failed to materialize,” said Aaron Terrazas, senior economist at Zillow.
“Geopolitical headlines have temporarily seized markets’ attention – and could do so again this week – but the underlying macroeconomic fundamentals continue to point to a relatively strong U.S. economy and gradually rising rates over the coming months.
“Several speeches by key FOMC voters and incoming housing data early next week will likely further buttress that view.”
Freddie Mac Primary Mortgage Market Survey
- 30-year fixed-rate mortgage (FRM) averaged 4.47 percent with an average 0.5 point for the week ending April 19, 2018, up from last week when it averaged 4.42 percent. A year ago at this time, the 30-year FRM averaged 3.97 percent.
- 15-year FRM this week averaged 3.94 percent with an average 0.4 point, up from last week when it averaged 3.87 percent. A year ago at this time, the 15-year FRM averaged 3.23 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.67 percent this week with an average 0.3 point, up from last week when it averaged 3.61. A year ago at this time, the 5-year ARM averaged 3.10 percent.
Quote attributed to Len Kiefer, deputy chief economist:
“Treasury yields rose ahead of the release of the Fed’s Beige Book and speeches from New York Fed President William Dudley and Fed Governor Randal Quarles. According to the Beige Book, economic activity in March and early April continued to expand at a moderate pace, however there is concern from various industries surrounding tariffs. Following Treasurys, mortgage rates soared. The U.S. weekly average 30-year fixed mortgage rate rose 5 basis points to 4.47 percent in this week’s survey, its highest level since January of 2014 and the largest weekly increase since February of this year.
“It is important to note that the weekly rate we report is an average and the actual rate obtained by a borrower may be different. In our April Insight, we found that by shopping more than one mortgage lender, consumers are more likely to get a better interest rate and save money in both the short and long term. With lower monthly payments and lower fixed fees, the loan will be more affordable and thus safer, and consumers may keep hundreds or thousands of dollars more in their pocket.”
Wednesday, April 18
- The 30-year fixed mortgage rate is 4.36.
- The 15-year fixed mortgage rate is 3.75
Source: Bankrate
Monday, April 16
- The average rate you’ll pay for a 30-year fixed mortgage is 4.35 percent, an increase of 6 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.30 percent.
- The average 15-year fixed-mortgage rate is 3.75 percent, up 7 basis points over the last week.
Source: Bankrate