Frank Nothaft

Fixed-Rate Mortgages Ease 

After a slight rise last week, most mortgage rates receded in the week ending April 16, with the exception of One-Year ARMs, according to Freddie Mac’s [stock FRE][/stock] Primary Mortgage Market Survey released today. 30-year fixed-rate mortgages averaged 4.82% with an average 0.6 point, down from last week’s 4.87% average, and far below the average last year at this time — 5.88%.