Rates on the most popular types of mortgages took divergent paths this week according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by two basis points (0.02 percent) to 3.53 percent. Conforming 5/1 Hybrid ARM rates decreased by four basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.57 percent.

“After a pretty solid report on hiring in March, and a decline in the unemployment rate to 7.5 percent, fixed-rate mortgages broke a six-week slide,” said Keith Gumbinger, vice president of HSH.com. “Although some firming of fixed rates will continue this week, we will remain very near record lows, and certainly well within 2013 ranges.”

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Rates on the most popular mortgages types drifted downward again, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by two basis points (0.02 percent) to 3.54 percent. Conforming 5/1 Hybrid ARM rates decreased by a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at average of 2.59 percent.

“Fixed mortgage rates are a stone’s throw from record lows, while five-one hybrid ARMs are already there,” said Keith Gumbinger, vice president of HSH.com. “There’s no better way to welcome the spring homebuying season than with rock-bottom mortgage rates.”

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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-rate mortgages 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.”

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Rates on the most popular types of mortgages barely moved, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by one basis point (0.01 percent) to 3.74 percent, a new 2013 high. Conforming 5/1 Hybrid ARM rates decreased by four basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at average 2.68 percent.

“Fixed mortgage rates had just a little leftover momentum from last week’s more substantial rise,” said Keith Gumbinger, vice president of HSH.com. “However, markets became spooked this week over a bank-bailout plan in Cyprus that would have heavily taxed regular bank depositors to help defray the cost of European Central Bank (ECB) financial support to keep them afloat. As has been the case in times of fiscal trouble, money poured into U.S. Treasuries, driving the yields that influence mortgage rates lower over the past few days.”

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Our latest Market Trends newsletter warned we were in for a rate increase this week. Our forecast was correct. According to our latest weekly mortgage rates report, there was a sizeable increase in rates from the week prior.

Rates on the most popular types of mortgages rose sharply this week according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages increased by nine basis points (0.09 percent) to 3.73 percent. Conforming 5/1 Hybrid ARM rates rose by 10 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.72 percent. Read the rest of this entry »

The headline of last week’s Mortgage Rates Radar was “Fixed mortgage rates rise but decline expected.”

This week, mortgage rates declined indeed, according to HSH.com’ latest mortgage rates survey, falling to lows not seen since January.

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Rates on the most popular types of mortgages moved in different directions, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis points (0.01 percent) to 3.71 percent. Conforming 5/1 Hybrid ARM rates decreased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.67 percent.

“A rough Monday for the stock market put some money back into bonds and mortgages,” said Keith Gumbinger, vice president of HSH.com. “Despite the small rise in this week’s survey and another equity rally on Tuesday, mortgage rates should break their upward trend over the past six weeks and ease a bit as the week progresses.”

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Rates on the most popular types of mortgages barely moved, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis point (0.01 percent) to 3.68 percent. Conforming 5/1 Hybrid ARM rates held steady for a second straight week, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.71 percent.

“A light calendar of fresh economic news has given the markets little to go on over the past week or so,” said Keith Gumbinger, vice president of HSH.com.” As a result, mortgage rates are mostly in a holding pattern after climbing a bit from December’s record lows.”

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Rates on the most popular types of mortgages were slightly higher or flat compared to last week according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by four basis points (0.04 percent) to 3.67 percent. Conforming 5/1 Hybrid ARM rates were unchanged, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.71 percent.

Good news is the culprit

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Rates on the most popular types of mortgages slipped slightly, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by two basis points (0.02 percent) to 3.53 percent. Conforming 5/1 Hybrid ARM rates decreased by two basis points as well, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.65 percent.

“There has been little market-moving economic news to push mortgage rates in one direction or the other of late,” said Keith Gumbinger, vice president of HSH.com. “The fight in Washington over the debt ceiling and spending cuts is getting more fully underway and markets are watching the theatre, but there is no grave concern about any financial impacts just yet.”

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