Neil Sweren's Interesting Points

Washington, DC – The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 3.90 percent based on loans closed in March. Beginning in March, FHFA is calculating interest rates using un-weighted survey data. There was a decrease of 0.18 percent from the previous month. The complete Contract Rate series can be found at http://www.fhfa.gov/Default.aspx?Page=251.

The full press release is available here: http://www.fhfa.gov/webfiles/23913/Apr%20MIRS%20Apr%202012%20final.pdf

Filed under: Mortgage | Tagged: economy, interest rates, Mortgage |