search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtRialto slaps another Signature Bank borrower, RFR, with defaultRialto slaps another Signature Bank borrower, RFR, with defaultLincoln Property defaults on Newport Beach office loanLincoln Property defaults on Newport Beach office loan
New York

Freddie Mac reports four-week fixed-rate mortgage decline

Thirty-year fixed-rate mortgages averaged 4.63 percent for the week ending May 12, according to Freddie Mac’s weekly primary mortgage market survey data. The figure marks four consecutive weeks of decline. The year high, Feb. 10, for 30-year mortgages was 5.05 percent.

A 15-year fixed-rate mortgage averaged 3.82 percent this week compared with 4.3 percent the year ago period.

Sign Up for the undefined Newsletter

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.41 percent, down from 3.47 percent the week before and 3.95% a year earlier. One-year Treasury-indexed ARMs were 3.11 percent, a drop from 3.14 percent the prior week and 4.02 percent a year previous.

In a statement, Freddie Mac Vice President and Chief Economist Frank Nothaft attributed the decline to a mixed employment rate.

“The economy added a healthy number of 244,000 workers in April,” he said, but “the unemployment rate rose to 9 percent from 8.8 percent in March and was the highest reading since January.” TRD

Tags
Freddie MacMortgages