SEATTLE NEWS ARCHIVES & FEATURES
Interest rates dip in weekly mortgage survey
Apr 21, 2011, 7:33 AM | Updated: Mar 4, 2016, 6:00 am
Mortgage interest rates dipped the past week with 30-year, fixed-rate loans sitting at 4.80 percent, according to Freddie Mac’s weekly survey.
Last year at this time, the 30-year fixed-rate loans averaged 5.07 percent.
“Low inflation is keeping mortgage rates at bay,” said Frank Nothaft, vice president and chief economist at Freddie Mac. “The core consumer price index rose just 0.1 percent in March, below the market consensus forecast. The 12-month growth rate in core prices was 1.2 percent, which is also rather low by historical standards.”
Other rates:
15-year fixed – averaged 4.02 percent with an average 0.7 point, up from last week when it averaged 4.13 percent. A year ago at this time, the 15-year averaged 4.39 percent.
5-year Treasury-indexed adjustable-rate mortgage (ARM) – averaged 3.61 percent this week, with an average 0.7 point, up from last week when it averaged 3.78 percent. A year ago, the 5-year ARM averaged 4.03 percent.
1-year Treasury-indexed ARM – averaged 3.16 percent this week with an average 0.6 point, up from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.22 percent.
