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15 Year Mortgage Rates Under 4.50%

15-year-mortgage-rates-under-4501Mortgage rates dropped again this past week. Rates for 15 year mortgages are now under  4.50 percent and 30 year mortgage rates stayed under 5 percent.

Freddie Mac's survey this week showed rates for 30 year fixed rate mortgages fell 0.6 percent to 4.82 percent from 4.88 percent. Mortgage rates for 15 year fixed rate mortgages also fell from 4.54 percent to 4.48 percent.

Five year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.88 percent this week, down from last week when it averaged 4.93 percent. For one-year Treasury-indexed ARMs average rate went up this past week to 4.91 percent from last week's average of 4.83 percent.

Freddie Mac's vice president Frank Nothaft had the following comments "Mortgage rates on fixed-rate loans and some ARM products eased this week. "The housing industry is starting to exhibit some positive signs, albeit scarce and too early to tell how permanent".
Author: Brian McKay
April 16th, 2009