WASHINGTON–Fixed mortgage rates ticked up a bit last week, but remain well below 4% as the spring and summer home buying seasons get under way.
According to data released by Freddie Mac, the 30-year fixed-rate mortgage averaged 3.66% with an average 0.6 point for the week ending April 28, 2016, up from one week earlier when it averaged 3.59%. A year ago at the time the 30-year FRM averaged 3.68%.
The 15-year FRM last week averaged 2.89% with an average 0.6 point, up from last week when it averaged 2.85%. A year ago at this time, the 15-year FRM averaged 2.94%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86% last week, with an average 0.5 point, up from last week when it averaged 2.81%. One year ago the five-year ARM averaged 2.85%.