Fixed Mortgage Rates Dip Below 4%

Fixed Mortgage Rates Dip Just Below Four Percent
MCLEAN, VA–(Marketwired – Dec 11, 2014) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey┬« (PMMS┬«), showing average fixed mortgage rates slightly up from the last week, but with the average 30-year fixed-rate mortgage remaining below four percent.
News Facts
30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.5 point for the week ending December 11, 2014, up from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 4.42 percent.
15-year FRM this week averaged 3.20 percent with an average 0.5 point, up from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.43 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week with an average 0.5 point, up from last week when it averaged 2.94 percent. A year ago, the 5-year ARM averaged 2.94 percent.
1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, down from last week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.51 percent.
Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
“Fixed mortgage rates rebounded this week with the 30-year fixed mortgage rate increasing to 3.93 percent after declining for four weeks in a row. The rate rise comes on the heels of an uplifting jobs report showing nonfarm payrolls adding 321,000 new jobs in November — 91,000 more jobs than expected. The unemployment rate remained unchanged at 5.8 percent.”
Source: FreddieMac

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