News Column Weekly Mortgage Rates Radar: Mortgage Rates Tick Upward

April 23, 2014

Foster City, Calif. (PRWEB) April 23, 2014

Rates on the most popular types of mortgages moved a little higher for the first time in weeks, according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by one basis point (0.01 percent) to 4.39 percent. Conforming 5/1 Hybrid ARM rates increased by five basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.16 percent.

"We've been waiting to see if the economic drag of a rough winter is fading, and much of the latest data suggest that it is," says Keith Gumbinger, vice president of "The change is still more subtle than not, but signs are accumulating that the economy was moving at a faster clip at the end of the first quarter of 2014 and the beginning of the second than earlier in the year."

Stronger retail sales, falling initial claims for unemployment benefits and some indications that manufacturing is picking up are contributing to the uptick in rates. The underlying yields that influence mortgage rates have risen somewhat in recent days, and should the litany of good news continue, mortgage rates may continue to firm as well.

"We have been running in a fairly tight range for mortgage rates for nearly six months now," adds Gumbinger. "Expectations are that rates will move higher as the year progresses, but we'll need to see strong data over a longer period in order to move them out of their present range."

This week, also made available its latest Two-Month Forecast covering the late April to mid-June period.

Average mortgage rates and points for conforming residential mortgages for the week ending April 22, according to

Conforming 30-year fixed-rate mortgage

-Average rate: 4.39 percent

-Average points: 0.15

Conforming 5/1-year adjustable-rate mortgage

-Average rate: 3.16 percent

-Average points: 0.09

Average mortgage rates and points for conforming residential mortgages for the previous week ending April 15, according to

Conforming 30-year fixed-rate mortgage

-Average rate: 4.38 percent

-Average points: 0.22

Conforming 5/1-year adjustable-rate mortgage

-Average rate: 3.11 percent

-Average points: 0.13


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.'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, 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

About 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., 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


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Source: PR Web