Industries Banking/Finance

Mortgage rate survey shows little change

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A survey by McLean-based Freddie Mac found little change in mortgage rates from the week before.

The mortgage giant said its Primary Mortgage Market Survey showed that 30-year fixed-rate mortgages (FRM) averaged 3.98 percent for the week ending April 5, down slightly from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.

The 15-year FRM this week averaged 3.21 percent, down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 4.10 percent.

“Average weekly mortgage rates were little changed this week amid mixed signals on the health of the economy,” Frank Nothaft, Freddie Mac’s vice president and chief economist, said in a statement. “The final estimate of 2011 fourth quarter growth remained unchanged at 3 percent, representing the strongest pace since the second quarter of 2010. The March 13th policy committee minutes from the Federal Reserve noted that the housing market remained depressed and supported the continuation of the maturity extension program through June 2012, but did not announce any new stimulus action beyond that date.”


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