Freddie Mac’s Primary Mortgage Market Survey for the week ending April 14, 2016 showed the average 30-year fixed-rate mortgage (FRM) interest rate hitting the lowest point this year since May 2013. Due to the high demand for Treasuries, the 30-year FRM interest rate dipped to 3.58% compared to 3.59% the previous week and 3.67% the same time last year.
The average 15-year FRM interest rate also declined to 2.86% this week from 2.88% the week before. Compared to a year ago, the average 15-year FRM interest rate was 2.94%. To see where the average 5-year Treasury-indexed hybrid adjustable-rate mortgage interest rate landed, visit http://mwne.ws/1Vv9hiq.