A conceptual look at variable mortgage rates.

Current mortgage rates at the nation’s top lenders for this Thursday afternoon are mostly stable. Freddie Mac released its weekly mortgage survey today showing rates for the week ending April 14, 2016 down a bit from last week to reach a new low for the year.

Freddie reported the 30-year fixed mortgage averaged 3.58% this week, down from last week’s average 3.59%. The 15-year fixed mortgage averaged 2.86%, lower than last week when it averaged 2.88%. The 5-year adjustable-rate mortgage (ARM) averaged 2.84% this week, up from last week’s average 2.82%.

The Chief economist of Freddie Mac, Sean Becketti had issued this statement with today’s rate report:

“Demand for Treasuries remained high this week, driving yields to their lowest point since February. In response, the 30-year mortgage rate fell 1 basis point to 3.58 percent. This rate represents yet another low for 2016 and the lowest mark since May 2013.”

Bank of America is reporting its 30 year fixed mortgage is at 3.62%, and the 5/1 ARM is at 2.75%.

Citi Mortgage’s 30 year fixed mortgage is at 3.75%, and the 15 year fixed is at 3.125%.

Chase Mortgage is reporting the 30 year fixed purchase mortgage is at 3.50%, and the 15 year is also the same at 2.875%. Refinance rates for the 30 year fixed mortgage is at 3.625%, and the 15 year fixed is at 2.875%.

Erik Sandstrom
LoanSafe's Mortgage Expert
I'm a Senior Loan Officer and LoanSafe mortgage expert. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.