“Mortgage rates were mixed this week following data reports on stable inflation and a thriving home construction market,” says Frank Nothaft, chief economist at Freddie Mac.
Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 20:
30-year fixed-rate mortgages: averaged 3.37%, with an average 0.7 point, rising from last week’s 3.32% average. The record low for 30-year mortgages is 3.31%, which was set in November. A year ago at this time, 30-year rates average 3.91%.
15-year fixed-rate mortgages: averaged 2.65%, with an average 0.7, dropping slightly from last week’s 2.66%average. The record low for 15-year mortgages is 2.63%, also set last month. Last year at this time, 15-year rates averaged 3.21%.
5-year adjustable-rate mortgages: averaged 2.71%, with an average 0.7 point, rising from last week’s 2.70%average. Last year at this time, 5-year ARMs averaged 2.85%.
Source: Freddie Mac