Now that some of the volatility has settled for Treasury markets, mortgage rates are less inclined to big moves week-to-week. The Freddie Mac rates as of April 16 were not much changed from the prior week and remained near the lows seen a little over three years ago. Rates are also low in the historical context, although this will not tempt any but the most qualified buyers with secure employment into the housing market.
The 30-year fixed rate was down 2 basis points to 3.31% and averaged 3.32% for April to-date.
The 15-year fixed rate was up 3 basis points to 2.80% and averaged 2.79% for April to-date.
The rate for a 5/1-year ARM was down 6 basis points to 3.34% and averaged 3.37% for April to-date.
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