Wednesday
October 22, 2014

Mortgage Rates Dip Slightly This Week

|
-A A +A

Mortgage Rates Dip Slightly This Week

Fixed-rate mortgages changed little this week, but remain near its highs in recent months. 

Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 12: 

  • 30-year fixed-rate mortgages: averaged 4.42 percent, with an average 0.7 point, dropping from last week’s 4.46 average. Last year at this time, 30-year rates averaged 3.32 percent.
  • 15-year fixed-rate mortgages: averaged 3.43 percent, with an average 0.7 point, falling from last week’s 3.47 percent average. A year ago, 15-year rates averaged 2.66 percent. 
  • 5-year hybrid adjustable-rate mortgages: averaged 2.94 percent, with an average 0.4 point, also dropping from last week’s 2.99 percent average. Last year at this time, 5-year ARMs averaged 2.70 percent.
  • 1-year ARMs: averaged 2.51 percent, with an average 0.4 point, falling from last week’s 2.59 percent average. A year ago at this time, 1-year ARMs averaged 2.53 percent. 

Source: Freddie Mac

HUD Issues Final ‘Qualified Mortgage’ Ruling