A dip this week in the 30-year fixed rate mortgage brings the average under 3 per cent. The Freddie Mac Primary Mortgage Market Survey found the weekly average rate for the 30-year mortgage dipped to 2.97 per cent.
Freddie Mac Chief Economist Sam Khater said the drop is good news for homeowners and buyers who are still looking to take advantage of the low interest enviornment.
•30-year fixed-rate mortgage averaged 2.97 percent with an average 0.7 point for the week ending April 22, 2021, down from last week when it averaged 3.04 percent. A year ago at this time, the •30-year FRM averaged 3.33 percent.
•15-year fixed-rate mortgage averaged 2.29 percent with an average 0.6 point, down from last week when it averaged 2.35 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent with an average 0.3 point, up from last week when it averaged 2.80 percent. A year ago at this time, the 5-year ARM averaged 3.28 percent.