For the second consecutive week, fixed-rate mortgages edged down, providing ongoing support for the housing recovery, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.43 percent this week, which is near its 65-year record low. 

Here’s a closer look at rates for the week ending April 11: 

• 30-year fixed-rate mortgages: averaged 3.43 percent, with an average 0.8 point, dropping from last week’s 3.54 percent average. A year ago at this time, 30-year rates averaged 3.88 percent.  
• 15-year fixed-rate mortgages: averaged 2.65 percent, with an average 0.7 point, falling from last week’s 2.74 percent average. Last year at this time, 15-year rates averaged 3.11 percent.
• 5-year adjustable-rate mortgages: averaged 2.62 percent, with an average 0.5 point, dropping from last week’s 2.65 percent average. Last year at this time, the 5-year ARM averaged 2.85 percent. 
• 1-year ARMs: averaged 2.62 percent, with an average 0.3 point, dropping from last week’s 2.63 percent average. A year ago at this time, 1-year ARMs averaged 2.80 percent. 

Axia Home Loans - Preferred Lender

If you are looking to purchase a new home, be sure to contact one our of local real estate agents about our lending partnership with Axia Home Loans.  Cascade Team customers have the opportunity to take advantage of additional incentives and loans with no origination fees, potentially saving you thousands on your next home purchase.  Use the mortage estimator below to determine an approximate payment and then contact us below for more information.

*Actual lender credit varies slightly by state.  Please contact your local office or agent to confirm the actual closing cost credit. 

Source: Freddie Mac