Friday
April 18, 2014

Mortgage Rates Remain Near All-time Lows

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Mortgage Rates Remain Near All-time Lows

Mortgage rates are staying low and serving as an attractive incentive to potential home buyers. 

"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 percent, with an average 0.7 point, rising from last week’s 3.32 percent average. The record low for 30-year mortgages is 3.31 percent, which was set in November. A year ago at this time, 30-year rates average 3.91 percent. 
  • 15-year fixed-rate mortgages: averaged 2.65 percent, with an average 0.7, dropping slightly from last week’s 2.66 percent average. The record low for 15-year mortgages is 2.63 percent, also set last month. Last year at this time, 15-year rates averaged 3.21 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.71 percent, with an average 0.7 point, rising from last week’s 2.70 percent average. Last year at this time, 5-year ARMs averaged 2.85 percent. 
  • 1-year ARMs: averaged 2.52 percent, with an average 0.4 point, dropping from last week’s 2.53 percent average. A year ago, 1-year ARMs averaged 2.77 percent. 

Source: Freddie Mac

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