30-Year Mortgage Hits Low for the Year

by Diana MacFarlane

May 12, 2014

Freddie Mac released the results of its Primary Mortgage Market Survey showing average fixed mortgage rates moving down further and following the decline in Treasury yields as the economic growth for the first quarter came in well below market expectations. At 4.21 percent, the 30-year fixed-rate mortgage is at its lowest since the week of November 7, 2013. 

Freddie Mac’s Primary Mortgage Market Survey
	8-May	Fees/Pts	1-May	Fees/Pts
30-Yr Fixed	4.21%	0.6	4.29%	0.7
15-Yr Fixed	3.32%	0.6	3.38%	0.6
5-Yr ARM	3.05%	0.5	3.05%	0.4
1-Yr ARM	2.43%	0.4	2.45%	0.5

Posted in: Interest Rates, mortgage rates, Santa Barbara Real Estate, Ventura Real Estate