Average fixed mortgage rates in the U.S. edged up in the latest
week, according to mortgage-finance company Freddie Mac (FMCC),
hovering around lows for the year.
Freddie Mac Deputy Chief Economist Len Kiefer said Thursday that
an advance estimate of March retail sales rebounded 0.9% in March,
though it was slightly below expectations.
"The National Association of Home Builders/Wells Fargo Housing
Market Index jumped four points to 56 in April, suggesting home
builders are optimistic and the housing market will continue to
strengthen in 2015," Mr. Kiefer said.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 3.67%, compared with 3.66% a week earlier and 4.27% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 2.94%,
compared with 2.93% the previous week and 3.33% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 2.88%, compared with 2.83% the previous
week and 3.03% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.46%, unchanged the previous week and up slightly
from 2.44% a year earlier.
Write to Tess Stynes at tess.stynes@wsj.com
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