30-Year Fixed-Rate Mtg Near Historic Low

30-Year Fixed-Rate Mortgage Finishes Year Near Historic Low
MCLEAN, Va.,
Dec. 27, 2012 /PRNewswire/ — Freddie Mac (OTC: FMCC) today released
the results of its Primary
Mortgage Market Survey®
(PMMS®), showing the average fixed mortgage rates
finishing the year near record lows, helping to keep homebuyer affordability
high. The 30-year fixed eased slightly this week to average 3.35 percent, while
the 15-year fixed remained unchanged at 2.65 percent.
News Facts
30-year fixed-rate
mortgage
(FRM) averaged 3.35 percent with an average 0.7 point for the week
ending December 27, 2012, down from last week when it averaged 3.37 percent.
Last year at this time, the 30-year FRM averaged 3.95 percent.
15-year FRM this
week averaged 2.65 percent with an average 0.7 point, unchanged from last week
when it averaged 2.65 percent. A year ago at this time, the 15-year FRM
averaged 3.24 percent.
5-year Treasury-indexed
hybrid adjustable-rate mortgage
(ARM) averaged 2.70 percent this week with
an average 0.7 point, down from last week when it averaged 2.71 percent. A year
ago, the 5-year ARM averaged 2.88 percent.
1-year
Treasury-indexed ARM
averaged 2.56 percent this week with an average 0.5
point, up from last week when it averaged 2.52. At this time last year, the
1-year ARM averaged 2.78 percent.
Average
commitment rates should be reported along with average fees and points to
reflect the total upfront cost of obtaining the mortgage. Visit the following
links for Regional
and National Mortgage Rate Details
and Definitions. Borrowers may still pay closing costs, which are not
included in the survey.
Quotes
Attributed to
Frank Nothaft, vice president and chief economist, Freddie Mac.
l
“Mortgage rates ended this year near record lows. The 30-year
fixed-rate mortgage averaged 3.66 percent for 2012, the lowest annual average
in at least 65 years. Rates on 30-year fixed mortgages were nearly 0.6
percentage points below that of the beginning of the year, which translates
into an interest payment savings of nearly $98,600 over the life of a $200,000
loan. Moreover, opting for a 15-year fixed mortgage at today’s rates, a
homeowner could save an additional $138,400 in interest payments.”
Get the latest
information from Freddie Mac’s Office of the Chief Economist on Twitter: @FreddieMac.

SUMMARY OF SURVEY RESULTS

30-Year Fixed Rate Mortgages US West
Average 3.35 3.32
Fees & Points 0.7 0.7
15-Year Fixed Rate Mortgages US West
Average 2.65 2.62
Fees & Points 0.7 0.7
5/1-Year Adjustable Rate Mortgages US West
Average 2.70 2.63
Fees & Points 0.7 0.6
Margin 2.74 2.74
1-Year Adjustable Rate Mortgages US West
Average 2.56 2.60
Fees & Points 0.5 0.3
Margin 2.75 2.75
The National Mortgage Rate Snapshot One Year Ago One Week Ago
30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 3.95 3.24 2.88 2.78 3.37 2.65 2.71 2.52
Fees & Points 0.7 0.8 0.6 0.6 0.7 0.7 0.7 0.4
Margin N/A N/A 2.74 2.76 N/A N/A 2.74 2.76
Dec.
27, 2012
Source:
Freddie Mac

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