Month in review.

Position:LOAN RATE MONITOR - Mortgage rates - Statistical data
 
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Mortgage rates have continued to grow modestly when compared with their rapid climb early last year. In April 2014, the average annual percentage rate (APR) for a 30-year conforming fixed-rate mortgage (FRM) increased to 3.625 percent from 3.5 percent in March. In comparison, the average 30-year conforming FRM has increased 0.84 percent in APR since April 2013. The increase in mortgage rates over 2013 was driven by speculation that the Federal Reserve would reduce its quantitative easing (QE) program of $85 billion-a-month bond purchases, which have helped keep long-term interest rates historically low. The Federal Reserve has announced three $10 billion declines in its monthly bond purchases since December because of its confidence that the economy is steadily healing. With summer coming, we'll soon learn if rates heat up.

MONTHLY AVERAGES 31-MAY 28-JUN 31-JUL 30-AUG 15-Year Fixed Conforming 3.167 3.626 3.682 3.678 30-Year Fixed Conforming 3.975 4.430 4.586 4.614 30-Year Fixed Jumbo 3.951 4.375 4.522 4.523 5/1 ARM Conforming 2.872 3.095 3.147 3.112 5/1 ARM Jumbo 2.832 3.004 2.981 2.980 MONTHLY AVERAGES 30-SEP 31-OCT 27-NOV 31-DEC 15-Year Fixed Conforming 3.459 3.395 3.518 3.761 30-Year Fixed Conforming 4.284 4.169 4.413 4.644 30-Year Fixed...

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