Mortgage rates continued to rise further for the week ending April 11, 2019, according to the latest Freddie Mac Primary Mortgage Market Survey.
In fact, the 30-year fixed-rate mortgage averaged 4.12% according to the survey, climbing from last week’s rate of 4.08%.
Once again, this week’s rate is much lower than 2018’s rate of 4.42%.
“Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating borrower sensitivity to changing mortgage rates,” Freddie Mac Chief Economist Sam Khater said. “Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting homebuyer demand in the next few months.”
The 15-year FRM averaged 3.60% this week, rising from last week’s 3.56%. This time in 2018, the 15-year FRM was significantly higher coming in at 3.87%.
Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.80%, moving forward from last week’s rate of 3.66%. This rate remains moderately higher than the same time period last year, when it averaged 3.61%.
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