Mortgage rates largely stayed put amidst mixed housing data as the March jobs report looms, according to Freddie Mac's weekly Primary Mortgage Market Survey.
Rates for the week ending April 2 remained around where the market stood at the start of 2015, according to the survey. The final estimate for real GDP growth kept to the prior figure of 2.2%, while the National Association of Realtors said pending home sales exceeded expectations by rising 3.1%.
"The pending home sales index was at the highest level since June 2013 when 30-year fixed mortgage rates averaged 4.07%, 0.37 percentage points higher than this week's survey," said Freddie Mac’s deputy chief economist Len Kiefer in an April 2 news release.
The average rate for a 30-year fixed-rate mortgage moved up to 3.7%
Both FRMs remained well below their rates this time last year, which were 4.41% and 3.47%, respectively.
Both the five-year Treasury-indexed hybrid adjustable-rate mortgage and one-year Treasury-indexed ARM remained unchanged week-to-week, with rates of 2.92% and 2.46%, correspondingly. The five-year ARM remained below its year-ago rate of 3.12%, however, while the one-year ARM rested slightly above last year's rate of 2.45%.
