Good news to share! Fixed-rate mortgages stayed mostly flat this week, remaining near their record lows and continuing to support housing demand and “translating into a pick-up in home prices in most markets,” says Frank Nothaft, Freddie Mac’s chief economist.
Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 14:
- 30-year fixed-rate mortgages: averaged 3.53 percent, with an average 0.8 point, holding the same average as last week. A year ago, 30-year rates averaged 3.87 percent.
- 15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.8 point, also holding the same as last week. Last year at this time, the 15-year fixed-rate mortgage averaged 3.16 percent.
- 5-year adjustable-rate mortgage: averaged 2.64 percent, with an average 0.6 point, rising slightly from last week’s 2.63 percent average. Last year at this time, 5-year ARMs averaged 2.82 percent.
Source: Freddie Mac