3.67: Mortgage Rates Hover Near 2015 Lows

• April 16th 2015

by Lark Turner

Mortgage rates are hanging around 3.70 percent for the fourth straight week, Freddie Mac reported on Thursday. The rate on an average fixed rate 30-year mortgage stayed more or less stagnant at 3.67 percent with an average 0.7 point this week. A year ago at this time rates were 4.27 percent.

Len Kiefer, Freddie Mac’s deputy chief economist, said in a news release that little economic news left the rates basically unchanged.

“Mortgage rates were little changed following a light week of economic reports and remaining low at the spring homebuying season,” he said. “Of the few releases, the advance estimate of retail sales rebounded 0.9 percent in March though slightly below market expectations. Meanwhile, the National Association of Home Builders/Wells Fargo Housing Market Index jumped 4 points to 56 in April, suggesting home builders are optimistic and the housing market will continue to strengthen in 2015.”

UrbanTurf is following the path of the rates in this chart:

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

This article originally published at https://dc.urbanturf.com/articles/blog/3.67_mortgage_rates_hover_near_2015_lows/9774.