“Mortgage Rates” Hover Near Record Lows!

Great news ot ahare! Mortgage rates held steady for the most part this week, remaining near all-time record lows set last week, Freddie Mac reports in its weekly market survey.

Here’s a closer look at national mortgage rate averages for the week ending Oct. 11:

•30-year fixed-rate mortgages: averaged 3.39 %, with an average 0.7 point, up slightly from last week’s record low of 3.36 %. A year ago, 30-year rates averaged 4.12 %.

•15-year fixed-rate mortgages: averaged 2.70 %, with an average 0.6 point, up from last week’s record of 2.69 percent. Last year at this time, 15-year rates averaged 3.37 %.

•5-year adjustable-rate mortgages: averaged 2.73 %, with an average 0.6 point, up slightly from last week’s 2.72 percent average. A year ago, 5-year ARMs averaged 3.06 %.

Source: Freddie Mac