Mortgage rates fell across the board this week, after having inched higher the last few weeks from all-time lows, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at rates for the week ending Aug. 30.

  • 30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.6 point, dropping from last week’s 3.66 percent average. A year ago at this time, 30-year rates averaged 4.22 percent.
  • 15-year fixed-rate mortgages: averaged 2.86 percent, with an average 0.6 point, also down from last week’s 2.89 percent average. Last year at this time, 15-year rates averaged 3.39 percent.
  • 5-year adjustable-rate mortgages: averaged 2.78 percent, with an average 0.6 point, dropping from last week’s 2.80 percent average. Five-year ARMs averaged 2.96 percent a year ago at this time.
  • 1-year ARMs: averaged 2.63 percent, with an average 0.4 point, dropping from last week’s 2.66 percent average. A year ago, 1-year ARMs averaged 2.89 percent.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/08/31/mortgage-rates-reverse-course

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