Federal Housing Finance Agency Print
Home / Media / FHFA Index Shows Mortgage Interest Rates Decreased in April
News Release

FHFA Index Shows Mortgage Interest Rates Decreased in April


Washington, D.C. – Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, according to several indices of new mortgage contracts. 

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 3.78 percent for loans closed in late April, down 2 basis points from 3.80 percent in March.  

The average interest rate on all mortgage loans was 3.78 percent, down 2 basis points from 3.80 in March.

The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.93 percent, a decrease of 2 basis points from 3.95 in March.

The effective interest rate on all mortgage loans was 3.94 percent in April, down 1 basis point from 3.95 percent in March.  The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.

The average loan amount for all loans was $310,600 in April, down $200 from $310,800 in March.

FHFA will release May index values Thursday, June 25, 2015.

For more information, call David Roderer at (202) 649-3206. To hear recorded index information, call (202) 649-3993.  To find the complete contract rate series, go to http://www.fhfa.gov/DataTools/Downloads/Pages/Monthly-Interest-Rate-Data.aspx​.   ​

National Average Contract Mortgage Rate graph for Previously Occupied Homes: May 2014 - April 2015

Source:  FHFA

Technical note: The indices are based on a small monthly survey of mortgage lenders, which may not be representative.  The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month.  The indices do not include mortgages either guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs.  The indices also excluded refinancing loans and balloon loans.  February 2015 values are based on 4,688 reported loans from 25 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks​.



​The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.

Media: Corinne Russell (202) 649-3032  / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811

© 2021 Federal Housing Finance Agency