Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Mortgage rates at, or near record lows. Again.

Posted by: Jim Buchta under Buying Updated: April 25, 2013 - 9:27 AM

Freddie Mac said today that average fixed mortgage rates declined for the fourth consecutive week with the 15-year fixed-rate mortgage at a new all-time record low of 2.61 percent. The 5-year adjustable rate average also fell to a new low of 2.58 percent. Here's the latest from Freddie Mac (Remember, these are national averages for the week ending April 25, 2013):

 

  • The 30-year fixed-rate mortgage (FRM) averaged 3.40 percent with an average 0.8 point, down from last week when it averaged 3.41 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.
  • 15-year FRM this week averaged 2.61 percent with an average 0.7 point, down from last week when it averaged 2.64 percent. A year ago at this time, the 15-year FRM averaged 3.12 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.58 percent this week with an average 0.5 point, down from last week when it averaged 2.60 percent. A year ago, the 5-year ARM averaged 2.85 percent.
  • 1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, down from last week when it averaged 2.63 percent. At this time last year, the 1-year ARM averaged 2.74 percent.

Mortgage Rates At Or Near All-Time Record Lows

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