HSH.com Weekly Mortgage Rates Radar: Mortgage Rates Holding Steady This Week
April 15 2015 - 5:10AM
Rates on the most popular types of mortgages held almost motionless
this week according to HSH.com's Weekly Mortgage Rates Radar. The
average rate for conforming 30-year fixed-rate mortgages remained
unchanged at an average rate of 3.75 percent, remaining near 2015
lows. Conforming 5/1 Hybrid ARM rates increased by a single basis
point, closing the Wednesday-to-Tuesday wraparound weekly survey at
an average of 2.91 percent.
"We're in a bit of a quiet period for mortgage rates at the
moment," said Keith Gumbinger, vice president of HSH.com. "The soft
employment report for March came out nearly two weeks ago, and the
Federal Reserve doesn't meet again for another two, so we're
enjoying a very nice lull for mortgage rates over the last week or
so."
The Federal Reserve is keenly focused on what's happening with
the employment market and inflation trends; both have tended to the
softer side lately, leaving some analysts to speculate that the Fed
will hold off on making a change to interest-rate policy until
later this year. The first clues that this might be the case should
come at the next Federal Open Market Committee (FOMC) meeting,
which takes place April 28-29.
"Mortgage rates near 2015 lows are good news for spring
homebuyers," adds Gumbinger. "For many borrowers, though, the price
of money is less the issue than is access to it, with rock-bottom
rates available to only the best possible borrowers. Still, even
those with lesser credit or smaller down payments should find more
willing lenders this year than at any time over the past few
springs, so if they are inclined to buy a home, they should be able
to find the financing they need, even though their costs will be
slightly higher."
Average mortgage rates and points for conforming residential
mortgages for the week ending April 14, according to HSH.com:
Conforming 30-year fixed-rate mortgage - Average Rate: 3.75
percent - Average Points: 0.15
Conforming 5/1-year adjustable-rate mortgage -Average Rate: 2.91
percent -Average Points: 0.09
Average mortgage rates and points for conforming residential
mortgages for the previous week ending April 07 were, according to
HSH.com:
Conforming 30-year fixed-rate mortgage -Average Rate: 3.75
percent -Average Points: 0.15
Conforming 5/1-year adjustable-rate mortgage -Average Rate: 2.90
percent -Average Points: 0.08
Methodology
The Weekly Mortgage Rates Radar reports the average rates and
points offered on conforming 30-year fixed-rate mortgages and
conforming 5/1 ARMs. The weekly mortgage rate survey covers a large
sample of mortgage lenders and is conducted over a
Wednesday-to-Tuesday cycle, with data released every Wednesday.
HSH.com's survey helps consumers find the best rates on home loans
in changing market conditions. Unlike mortgage rate surveys that
report average rates only, the Weekly Mortgage Rates Radar's
inclusion of both average rates and average points provides a more
accurate view of mortgage terms currently offered by lenders.
Every week, HSH.com conducts a survey of mortgage rate data for
a wide range of consumer mortgage products including ARMs,
FHA-backed and jumbo mortgages, as well as home equity loans and
lines of credit from hundreds of direct lenders in the U.S. For
information on additional loan products, visit HSH.com.
About HSH.com
HSH.com is a trusted source of mortgage data, trends, news and
analysis. Since 1979, HSH's market research and commentary has
helped homeowners, buyers and sellers make smart financial choices
and save money on mortgage and home equity products. HSH.com, of
Riverdale, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ:
QNST), one of the largest Internet marketing and media companies in
the world. QuinStreet is committed to providing consumers and
businesses with the information they need to research, find and
select the products, services and brands that best meet their
needs. The company is a leader in ethical marketing practices. For
more information, please visit QuinStreet.com.
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=32117
CONTACT: Alex H. Bryant
212-863-4753
abryant@quinstreet.com
QuinStreet (NASDAQ:QNST)
Historical Stock Chart
From Jun 2024 to Jul 2024
QuinStreet (NASDAQ:QNST)
Historical Stock Chart
From Jul 2023 to Jul 2024