Home Loan Interest Rates Remain Near 2013 Lows

Average fixed-rate mortgages are holding near historical lows, but did inch higher this week, Freddie Mac reports in its weekly mortgage market survey.

The economy added 257,000 new jobs in January, following additional increases in December (329,000) and November (423,000).

Despite this week’s uptick in rates, fixed-rate mortgages remain near lows from May 23, 2013, Freddie Mac reports.

Freddie Mac reports the following mortgage rates for the week ending Feb. 12:

  • 30-year fixed-rate mortgages: averaged 3.69 percent, with an average 0.6 point up from last week’s 3.59 percent average. A year ago, 30-year rates averaged 4.28 percent.
  • 15-year fixed-rate mortgages: averaged 2.99 percent, with an average 0.6 point, rising from last week’s 2.92 percent average. Last year at this time, 15-year rates averaged 3.33 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, up from last week’s 2.82 percent average. A year ago, 5-year ARMs averaged 3.05 percent.

Source: Freddie Mac

Mortgage Rates Fall Again

Average fixed-rate mortgages once again fell back to near 20-month lows. After rising slightly last week, mortgage rates reversed course this week, sending borrowing costs lower and allowing home buyers and refinancers to lock in rates that haven’t been this low since May 23, 2013, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages rates for the week ending Feb. 5:

  • 30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.7 point, dropping from last week’s 3.66 percent average. A year ago, 30-year rates averaged 4.32 percent.
  • 15-year fixed-rate mortgages: averaged 2.92 percent, with an average 0.6 point, dropping from last week’s 2.98 percent average. Last year at this time, 15-year rates averaged 3.40 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.82 percent, with an average 0.4 point, dropping from last week’s 2.86 percent average. A year ago, 5-year ARMs averaged 3.12 percent.

Source: Freddie Mac

Mortgage Rates “Climb Higher This Week”

Mortgage rates were on their way up this week, with the 30-year fixed-rate mortgage moving to its highest reading since Sept. 29, 2012, Freddie Mac reports in its weekly mortgage market survey. 

Still, mortgages remain near all-time record lows and “should continue to aid in the ongoing housing recovery,” according to Frank Nothaft, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 24: 

  • 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.7 point, rising from last week’s 3.38 percent average. A year ago at this time, 30-year fixed-rate mortgages averaged 3.98 percent. The record low for 30-year rates is 3.31 percent, set on Nov. 21, 2012. 
  • 15-year fixed-rate mortgages: averaged 2.71 percent, with an average 0.7 point, rising from last week’s 2.66 percent average. Last year at this time, 15-year rates averaged 3.24 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.67 percent, with an average 0.5 point, holding the same as last week. Last year at this time, 5-year ARMs averaged 2.85 percent. 

Source: Freddie Mac

Home Loan Mortgage Rates “Back to Near All-Time Lows”

Under signs of a growing economy and low inflation, fixed-rate mortgages inched down this week and are hovering near their record lows, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at average mortgage rates for the week ending Nov. 1:

•30-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.7 point, dropping from last week’s 3.41 percent average. The record low for the 30-year mortgage, set in recent weeks, was an average of 3.36 percent.

•15-year fixed-rate mortgages: averaged 2.70 %, with an average 0.7 point, dropping from last week’s 2.72 % average. The 15-year rates record low average is 2.66 %, in October.

•5-year adjustable-rate mortgages: averaged 2.74 %, with an average 0.6 point, dropping from last week’s 2.75 percent average. A year ago, 5-year ARMs averaged 2.96 %.

Source: Freddie Mac

Home Mortgage Rates End the Year near “Record Lows”

Home buyer affordability continues to be pushed higher due to mortgage rates remaining at record lows, Freddie Mac reports in its weekly mortgage market survey. 

“Mortgage rates ended the year hovering near historic lows in an already affordable housing market,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement.  With affordability so high, Nothaft notes “it’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May,” according to The Conference Board. 

For the ninth consecutive week, 30-year fixed-rate mortgages, the most popular choice among home buyers, have been at or below 4 percent. In fact, only twice this year did 30-year rates average above 5 percent, Freddie Mac reports. 

Here’s a closer look at rates for the week ending Dec. 29.

  • 30-year fixed-rate mortgages: averaged3.95 percent, with an average 0.7 point, inching up from last week’s all-time record–a 3.91 percent average. A year ago at this time, 30-year rates averaged 4.86 percent. 
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.8 point, also up slightly compared to last week’s record 3.21 percent average. Last year at this time, 15-year rates averaged 4.20 percent.
  • 5-year adjustable-rate mortgages: averaged 2.88 percent, with an average 0.6 point, increasing from last week’s 2.85 percent average. Last year at this time, the 5-year ARM averaged 3.77 percent. 
  • 1-year ARMs: averaged 2.78 percent, with an average 0.6 point, slightly up from last week’s 2.77 percent average. A year ago, 1-year ARMs averaged 3.26 percent. 

 Source: Freddie Mac

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