Average Mortgage Rates Fall for 2nd Straight Week

A year ago at this time, the 15-year FRM averaged 2.78 percent. Long-term mortgage rates fell this week for the second consecutive week, despite the

A year ago at this time, the 15-year FRM averaged 2.78 percent.

Long-term mortgage rates fell this week for the second consecutive week, despite the Federal Reserve’s efforts to lift borrowing costs.

Mortgage buyer Freddie Mac says that the rate on 30-year, fixed-rate mortgages slid to 3.92 percent from 3.96 percent the previous week. The short term 15 year loan interest rates at the bank stand at 3.250% with an April of 3.374% today.

The best 30 year refinance fixed rate loans are listed at 4% at BB&T today with an April of 4.083%.

A year ago at this time, the 30-year FRM averaged 3.48%. The 10/1 ARM loans are being quoted at 3.810% yielding an April of 3.991% to start. The shorter term 15 year refi loans stand at 2.75% at the bank with an April of 3.239%.

The 5 year ARM interest rates stand at 3.440% at PHH yielding an April of 3.907% at the beginning of the loan. 10/1 ARM loans have been published at 3.500% now with a starting April of 3.713%. A year ago at this time, the five-year ARM averaged 2.78%.

And now, BB&T’s own stock increased to 46.88 up +0.28%.

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