Borrowers who are looking for the stability of a fixed-rate loan but with a shorter repayment period should consider a 15-year fixed mortgage.
The best 30 year refinance fixed rate mortgage interest rates start at 4.125% at Wells and an April of 4.165% today.
But home mortgage rates tend to move more in line with the 10-year Treasury note, issued by the USA government and viewed as one of the safest investments in the world.
Market observers noted that Freddie Mac's survey was the first since US airstrikes in Syria, and since an unimpressive March jobs report.
You can use Bankrate's mortgage calculator to figure out your monthly payments and find out how much you'll save by adding extra payments. Nervous investors clamor for the safe haven of U.S. Treasuries, pushing bond prices higher and bond yields lower.
In November a year ago the Central Bank announced a relaxation of mortgage-lending rules for first-time buyers which was followed by a 42 per cent increase in the number of people who obtained mortgage approval in February, according to the Banking and Payments Federation.
What are the refinance mortgage rates? That pushed their yields lower. This was slightly down from the previous week, when the average was 3.36 percent. One-third of respondents forecast further declines and just 17 percent predict a rebound in mortgage rates over the next week.
Those rates don't include fees associated with obtaining mortgage loans.
Monthly payments on a 15-year fixed mortgage at that rate will cost around $693 per $100,000 borrowed. Since Friday, the yield on the 10-year Treasury has been falling. April quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.