Mortgage Rates Hit New 2016 Lows, Lowest in Nearly Three Years

15 April 2016

Mortgage Rates Hit New 2016 Lows, Lowest in Nearly Three Years

Freddie Mac

15 April 2016

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing mortgage rates declining slightly from the previous week to reach a new low for the year.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.58 percent with an average 0.5 point for the week ending April 14, 2016, down from last week when they averaged 3.59 percent. A year ago at this time, the 30-year FRM averaged 3.67 percent.
  • 15-year FRM this week averaged 2.86 percent with an average 0.5 point, down from last week when it averaged 2.88 percent. A year ago at this time, the 15-year FRM averaged 2.94 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week with an average 0.4 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 2.88 percent.