Steady Mortgage Rates Arrest House Price Slide

The mortgage rates have managed a steady state in the four months of this year. The 30-year fixed loans rate averaged at 5.06%, whereas the 15-year fixed-rate mortgage closed at 4.39% for the week ended on April 29. Also, the five-year Treasury-indexed hybrid adjustable-rate mortgages (ARM) averaged 4%.

The three mortgage rates did show a minute decline in comparison to the previous week, but the one-year Treasury-indexed ARM averaged 4.25% (0.3% greater than the previous week). The mortgage rates are inversely proportional to the house prices and this steady approach has arrested the house price slide. According to Marketwatch, house prices showed a 12-month increase of 0.7 percent in February this year.