Month in review.

Position:LOAN RATE MONITOR
 
FREE EXCERPT

Mortgage rates have decreased further as we head into May. The average 30-year fixed conforming annual percentage rate (APR) fell 0.075 percent to 3.642 percent. Moreover, the average APR for a 15-year fixed conforming fell 0.09 percent to 2.899 percent. This continues to be an excellent opportunity for borrowers seeking to purchase a new home or homeowners seeking to refinance to a lower rate.

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MONTHLY AVERAGES 30-JUN 31-JUL 31-AUG 30-SEP 15-Year Fixed Conforming 3.355 3.275 3.239 3.170 30-Year Fixed Conforming 4.128 3.999 3.968 3.885 30-Year Fixed Jumbo 3.895 3.767 3.725 3.568 5/1 ARM Conforming 3.024 3.048 3.083 3.075 5/1 ARM Jumbo 3.019 3.018 3.030 2.985 MONTHLY AVERAGES 30-OCT 30-NOV 31-DEC 29-JAN 15-Year Fixed Conforming 3.199 3.292 3.461 3.146 30-Year Fixed Conforming 3.949 4.052 4.157 3.810 30-Year Fixed Jumbo 3.697 3.685 3.793 3.470 5/1 ARM Conforming 3.095 3.228 3.446 3.299 5/1 ARM Jumbo 3.048 3.163 3.361 3.222 MONTHLY AVERAGES 29-FEB 31-MAR 29-APR 6-MAY 15-Year Fixed Conforming 3.091 3.049 2.989 2.899 30-Year Fixed...

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