Rates on 30-year fixed loans fell below the 4.0% mark this past week for the first time this year.
For the week ending April 20, Freddie Mac announced that 30-year fixed rates fell to 3.97% from 4.08% the week before.
The average for 15-year loans decreased to 3.23%, and the average for five-year adjustables moved down to 3.10%.
A year ago, 30-year fixed rates averaged 3.59%.
Attributed to Sean Becketti, chief economist, Freddie Mac — “The rate on 30-year loans fell 11 basis points this week to 3.97%, dropping below the psychologically-important 4.0% level for the first time since November. Weak economic data and growing international tensions are driving investors out of riskier sectors and into Treasury securities. This shift in investment sentiment has propelled rates lower.”Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.