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Freddie Mac: Mortgage rates fall; 30-year loan averages 4.34%

April 10, 2014|By E. Scott Reckard
  • A contractor works on a home under construction in Irvine in January. California home sales fell last month.
A contractor works on a home under construction in Irvine in January. California… (Patrick T. Fallon / Bloomberg )

Lenders were offering 30-year fixed-rate mortgages at an average of 4.34% this week compared with 4.41% a week ago, according to the widely watched survey from home finance giant Freddie Mac. 

The decline in rates, reflecting a belief that overall inflation remains at bay, was also seen in 15-year fixed loans, which dropped from an average 3.47% to 3.38%.

Start rates for adjustable-rate loans also fell, according to Freddie Mac.

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Freddie Mac asks lenders across the nation about the terms they are offering on popular loan types to borrowers considered low risk and with 20% down payments or equivalent home equity in the case of refinance loans.

The borrowers would pay less than 1% of the loan amount to the lenders in upfront fees and discount points. It's possible to obtain lower rates by paying additional discount points.

US 30 Year Mortgage Rate Chart

US 30 Year Mortgage Rate data by YCharts

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