Mortgage Rates Hover Near Yearly Lows

Fixed-rate mortgages remained mostly unchanged this week, with borrowing costs just slightly above their lows for 2014, Freddie Mac reports in its weekly market survey.

Freddie Mac reports the following mortgage rates for the week ending July 24:

  • 30-year fixed-rate mortgages: averaged 4.13 percent, with an average 0.6 point, unchanged from last week. Last year at this time, 30-year rates averaged 4.31 percent.
  • 15-year fixed-rate mortgages: averaged 3.26 percent, with an average 0.6 point, rising from last week’s 3.23 percent average. A year ago, 15-year rates averaged 3.39 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.5 point, rising from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.16 percent.

Source: Freddie Mac