Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

Full Bio →

Written by

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

Full Bio →

Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Apr 4, 2013

Advertiser Disclosure

Advertiser Disclosure: We strive to help you make confident loan decisions. Comparison shopping should be easy. We are not affiliated with any one loan provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about loans. Our goal is to be an objective, third-party resource for everything loan related. We update our site regularly, and all content is reviewed by experts.

Home loan interest rates dipped lower according to Freddie Mac’s weekly survey.

For the week ending April 4, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.8 point. That is down from last week when the rate was 3.57 percent. At this time last year, the 30-year FRM averaged 3.98 percent.

The 30-year FRM has remained around 3.5 percent for the past two months. Freddie Mac sees this seesawing rate as an attributing factor to the housing recovery.

The 15-year fixed-rate mortgage averaged 2.74 percent with a 0.7 point, down from last week’s 2.76 percent average. Last year at this time, the 15-year fixed home loan interest rate averaged 3.21 percent.

This week’s 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.65 percent with a 0.5 point this week. The rate is down from last week when it averaged 2.68 percent. A year ago, the 5-year ARM averaged 2.86 percent.

The 1-year Treasury-indexed ARM averaged 2.63 percent with a 0.4 point, up from last week’s 2.62 percent average. Last year at this time, the rate averaged 2.78 percent.

Freddie Mac vice president and chief economist, Frank Nothaft, said the home loan interest rates decreased in conjunction with a decline seen in the manufacturing industry.

For the month of March, both the Deutsche Börse Group Chicago purchasing manager report and the Institute for Supply Management (ISM) Milwaukee report dropped below regional market consensus forecasts. On a national level, the ISM indexes for both non-manufacturing and manufacturing experienced reductions.