Magazine article Mortgage Banking

Month in Review

Magazine article Mortgage Banking

Month in Review

Article excerpt

Spring is here, and low mortgage rates are a welcome sign for those in the market to buy a home. Mortgage rates fell in April, making home buying more affordable just in time for the spring season. As of April 1, 2015, the average annual percentage rate (APR) for a 30-year fixed-rate mortgage (FRM) was 3.69 percent, down from 3.803 percent in March. Moreover, the average APR 15-year fixed mortgage slid to 3.077 percent from 3.223 percent in March.

MONTHLY AVERAGES           30-MAY   30-JUN   31-JUL   29-AUG   30-SEP

15-Year Fixed Conforming   3.338    3.323    3.535    3.397    3.581
30-Year Fixed Conforming   4.167    4.159    4.319    4.169    4.244
30-Year Fixed Jumbo        3.927    3.947    4.108    3.910    4.070
5/1 ARM Conforming         2.878    2.899    2.949    2.912    2.959
5/1 ARM Jumbo              2.773    2.809    2.884    2.832    2.911

MONTHLY AVERAGES           31-OCT   28-NOV   31-DEC   30-JAN   27-FEB

15-Year Fixed Conforming   3.389    3.263    3.277    3.165    3.243
30-Year Fixed Conforming   4.099    3.933    3.873    3.668    3.818
30-Year Fixed Jumbo        3.941    3. … 
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