Mortgage Rates Ease First Week In April 2018

Freddie Mac reported the following national averages for the week ending April 5:

• 30-year fixed-rate mortgages: averaged 4.40 percent, with an average 0.5 point, dropping from last week’s 4.44 percent average. Last year at this time, 30-year rates averaged 4.10 percent. 

• 15-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.4 point, dropping from last week’s 3.90 percent average. A year ago, 15-year rates averaged 3.36 percent.

• 5-year hybrid adjustable-rate mortgages: averaged 3.62 percent, with an average 0.4 point, falling from last week’s 3.66 percent average. A year ago, 5-year ARMs averaged 3.19 percent. 

Source: Freddie Mac

Despite Mortgage Rate Fluctuations - You can Save Money

Although mortgage rates have been rising, there was a slight decrease last week. Rates will fluctuate based on the overall conditions created by Federal Reserve Bank policy and the bond market. Despite slight increases, you may want to check one of my preferred lenders to show you some mortgage products which can help you achieve cost savings in your residential mortgage. Please consult loan officer Jason Evans with Loan Depot for a more accurate rate and better options for your mortgage. You can reach Jason Evans @ (315) 569-7338. 

Michael Mahoney
Realtor
eXp Realty
617-615-9435

www.RealtorMikeMahoney.com

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