Mortgage rates for 30-year fixed-rate loans ticked slightly lower, while 15-year fixed-rate loans and 5/1 ARMs were unchanged, according to a NerdWallet survey of mortgage interest rates published by national lenders Friday morning.
Mortgage rates have completed their third week in a row of moving within a very narrow range, less than one-eighth (0.125) of a percentage point, according to the NerdWallet Mortgage Rate Index.
Next week, the Federal Reserve will announce its latest decision regarding short-term interest rates. Analysts are expecting the central bank to stand firm, likely waiting until its June meeting to raise rates again. Barring a surprise in the U.S. employment report next Friday — or unexpected world events — mortgage rates may remain in calm waters for the short term.
MORTGAGE RATES TODAY, FRIDAY, APRIL 28:
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Homeowners looking to lower their mortgage rate can shop for refinance lenders here.
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.