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Mortgage Rates Radar: Mortgage rates edge lower this week

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Rates on the most popular types of mortgages eased lower according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed mortgage rates fell by four basis points (0.04 percent) to 3.68 percent. Conforming 5/1 Hybrid ARM rates decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.65 percent.

"With a mixed bag of economic news lately, mortgage rates have found a little space to fall," said Keith Gumbinger, vice president of HSH.com. "It's not fully clear yet if the economy is losing some momentum from the changes to tax policy back in January and the effects of curtailed government spending as a result of the sequestration, but this does appear to be the case at the moment."

One signal that could help provide clarity is the March employment report, due out on Friday.

"If the job market continues to solidify, the slowness we're seeing lately will probably be little more than a temporary deceleration," notes Gumbinger. "However, if hiring has slowed in March relative to the last few months, we could be in for a tepid economic period as the spring unfolds."

Average mortgage rates and points for conforming residential mortgages for the week ending April 2, according to HSH.com:


HSH.com Mortgage Rates Radar - Four Week Trend

Conforming 30-year fixed-rate mortgage

·         Average rate:   3.68 percent

·         Average points: 0.25


Conforming 5/1-year adjustable-rate mortgage

·         Average rate:   2.65 percent

·         Average points: 0.20


Average mortgage rates and points for conforming residential mortgages for the previous week ending March 26 were, according to HSH.com:


Conforming 30-year fixed-rate mortgage

·         Average Rate:   3.72 percent

·         Average Points: 0.25


Conforming 5/1-year adjustable-rate mortgage

·         Average Rate:   2.67 percent

·         Average Points: 0.19



The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.


About HSH.com

HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Riverdale, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in ethical marketing practices. For more information, please visit www.quinstreet.com


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