Interest Rate Update During The Coronavirus Pandemic --Rates Down Some - By Gary Simmens

Dated: April 2 2020

Views: 94

04/02/20
(most recent)

Average
Rate

Points
& Fees

Margin

 30-Year Fixed Rate

3.33%

0.7

N/A

 15-Year Fixed Rate

2.82%

0.6

N/A

 5/1-Year ARM

3.40%

0.3

2.75

03/26/20
(previous week)

Average
Rate

Points
& Fees

Margin

 30-Year Fixed Rate

3.50%

0.7

N/A

 15-Year Fixed Rate

2.92%

0.6

N/A

 5/1-Year ARM

3.34%

0.3

2.75

“Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment. While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.”

– Sam Khater, Chief Economist, Freddie Mac

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Gary Simmens

Licensed since 18 years young, and a broker honors in NJ since his early 20`s, Gary has now, over 44 years experience, diversified in all aspects in real estate, including owning two offices and ma....

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