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Good News! A Slight Decline in Mortgage Rates This Week

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According to Freddie Mac, mortgage rates fell slightly the last week after rising steadily in April. That's good news for home buyers! Take a look:

30-year fixed-rate mortgage (FRM): for week ending May 3, 2018, FRM averaged 4.55 percent, down from last week's 4.58 percent average.

15-year FRM: averaged 4.03 percent, up slightly from last week's average of 4.02.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM): averaged 3.69 percent this week, down from last week's average of 3.74.

Freddie Mac also reported that "first-time home buyers appear to be having more success so far this year. Date through April shows that first-time home buyers represent 46 percent of purchase loans, up from 43 percent over the same period one year ago." Even more good news!

Looking to buy a home? Please contact The Gaskill Group. We've been serving generations of families throughout the DFW area, and would be honored to serve you as well. 

 

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