3.90: Mortgage Rates Rise Very Slightly

  • April 19, 2012

by Shilpi Paul

3.90: Mortgage Rates Rise Very Slightly: Figure 1

After a brief jump above 4 percent last month, rates have held steady for the past few weeks. This morning, Freddie Mac reported 3.90 percent with an average 0.8 point as the average on a 30-year fixed mortgage, up very slightly from last week’s 3.88 percent. The average on 15-year mortgages was up to 3.13 percent, slightly above their all-time low of 3.11.

From Freddie Mac vice president and chief economist Frank Nothaft:

Fixed mortgage rates held relatively stable this week amid signs that inflation remains in check. Industrial production was flat in March, a reading below the market consensus forecast. Meanwhile, both headline inflation gauges (the consumer and producer price indexes) for March were in line with market expectations.

Here’s a look at the path of rates since last January:

3.90: Mortgage Rates Rise Very Slightly: Figure 2

See other articles related to: mortgages, mortgage rates, freddie mac

This article originally published at http://dc.urbanturf.com/articles/blog/3.90_rates_rise_very_slightly/5440

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