Massachusetts Home Buyer Guide

Topsy turvy financial markets led to a decrease and then stabilization of average U.S. mortgage interest rates for the week ending April 5, 2018, according to Freddie Mac's weekly Primary Mortgage Market Survey. 

The 30-year, fixed-rate mortgage loan averaged 4.40 percent, with an average 0.5 point, down from 4.44 percent the previous week. A year ago the 30-year note average 4.10 percent. 

“After dropping earlier this week on trade-related anxiety in financial markets, the benchmark 10-year Treasury stabilized on Wednesday, but at a level slightly lower than from the start of [the previous] week," Len Kiefer, Deputy Chief Economist, said. "Mortgage rates followed and fell for the second consecutive week. Though rates on the 30-year fixed mortgage are up 0.3 percentage points from the same week a year ago, a robust labor marking is helping home purchase demand weather modestly higher rates. The Mortgage Bankers Association reported in [its] latest Weekly Mortgage Applications Survey that the purchase index was up 5 percent from a year ago, indicating that this spring is on track for a modest expansion in purchase mortgage activity.” 

The 15-year, fixed-rate mortgage loan averaged 3.87 percent, with an average 0.4 point. The 15-year home loan averaged 3.90 percent the previous week and 3.36 percent the previous year. The five-year, adjustable-rate mortgage averaged 3.62 percent, with an average 0.4 point, down four basis points from the previous week.