The Federal Housing Finance Agency reports the average interest rate on a conventional, 30-year fixed-rate mortgage of $417,000 or less grew 9 basis points to 4.21% in April.
The interest rate reported by FHFA is determined 30 to 45 days before a loan closes. Therefore, the latest rates reflect market conditions that prevailed in mid- to late-March, but on transactions closing in late April.
Read More: FHFA: Average interest rate for 30-year mortgage inches up
Travis Saxton is the marketing and technology manager at REAL Trends. Prior to operating this arm for REAL Trends, Travis was the director of online services for a newspaper consulting company. He greatly enjoys working with real estate companies adapt new cutting edge strategies and perfecting their online presence and systems. He has experience in the following areas: Websites, SEO/SEM, CRM/Lead Generation Systems, Traditional Marketing and Social Media Marketing, Real Estate Technology Consulting.