Average fixed mortgage rates for the Raleigh/Durham area were relatively stable last week amid signs that inflation remains in check with the 30-year fixed up slightly at 3.90 percent and 15-year fixed at 3.13 percent. Meanwhile, the average 5-year ARM hit a new all-time low of 2.78 percent, from its previously low of 2.80 percent set the first week of February, 2012.
- 30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.8 point for the week ending April 19, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent.
- 15-year FRM this week averaged 3.13 percent with an average 0.7 point, up from last week when it averaged 3.11 percent. A year ago at this time, the 15-year FRM averaged 4.02 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78 percent this week, with an average 0.7 point, down from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.61 percent.
- 1-year Treasury-indexed ARM averaged 2.81 percent this week with an average 0.6 point, up from last week when it averaged 2.80 percent. At this time last year, the 1-year ARM averaged 3.16 percent.