Digital News Report – The current mortgage interest rates were on a downward trend from the previous week averages. This was according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) which was released on April 21, 2011. For a while there was a slight upward trend to the fixed rate mortgages, but now the rates are going lower again.
The 30 year fixed interest rate mortgages were averaging 4.80 percent which is down by 0.7 points from 4.91 percent rate of the week prior. One year ago at the same time the interest rate was at 5.07 percent for the 30 year fixed interest rate loans.
There was a similar drop with the 15 year fixed interest rate mortgage loan at 4.02 percent that had the same 0.7 point drop from the previous week’s 4.13 percent interest rate. One year ago at the same time the interest rate for a 15 year mortgage was 4.39 percent.
By Victoria Brown