Saturday
June 25, 2016

Mortgage Rates Stay Near Yearly Lows

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Mortgage Rates Stay Near Yearly Lows

For the third consecutive week, the 30-year fixed-rate mortgage held steady, with borrowing costs for home buyers and refinancers remaining near its lows for the year.

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 4:

  • 30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, holding the same as last week. Last year at this time, 30-year rates averaged 4.57 percent.
  • 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.5 point, dropping from last week's 3.25 percent average. A year ago, 15-year rates averaged 3.59 percent.
  •  5-year hybrid adjustable-rate mortgages: averaged 2.97 percent, with an average 0.5 point, holding the same average from last week. Last year at this time, 5-year ARMs averaged 3.28 percent.
  • 1-year ARMs: averaged 2.40 percent, with an average 0.4 point, rising from last week's 2.39 percent average. A year ago, 1-year ARMs averaged 2.71 percent.

Source: Freddie Mac