Money & The Economy

Mortgage Rates Show Little Change

NEW YORK, April 23, 2015 /PRNewswire/ — Fixed mortgage rates were unchanged this week, with the benchmark 30-year fixed mortgage rate remaining at 3.79 percent, according to’s weekly national survey. The 30-year fixed mortgage has an average of 0.2 discount and origination points.

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The average 15-year fixed mortgage also held steady, at 3.03 percent, while the larger jumbo 30-year fixed mortgage reversed last week’s move and settled at 3.92 percent. Adjustable rate mortgages were slightly higher, with the 5-year ARM inching upward to 3.09 percent and the 7-year ARM now at 3.29 percent.

Mortgage rates remained at a 23-month low on a slow week for economic data, and mixed economic data at that. With the 10-year Treasury yield approaching the 2 percent mark, mortgage rates may move a touch higher ahead of next week’s Federal Open Market Committee meeting. But any confirmation of a slow economic start to 2015 or any delay in the Fed’s timetable for interest rate hikes would most likely bring bond yields and mortgage rates back down. Mortgage rates are closely related to yields on long-term government bonds.

One year ago, the average 30-year fixed mortgage rate was 4.48 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,011.00. With the average rate now at 3.79 percent, the monthly payment for the same size loan would be $930.78, a savings of $80 per month for anyone refinancing now.


30-year fixed: 3.79% — unchanged from last week (avg. points: 0.20)
15-year fixed: 3.03% — unchanged from last week (avg. points: 0.18)
5/1 ARM: 3.09% — up from 3.08% last week (avg. points: 0.19)

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