Fixed-rate mortgages continued to hover near all-time lows, keeping home buyer affordability high.

Freddie Mac reports the following averages in this week’s mortgage market survey:

  • 30-year fixed-rate mortgages: averaged 3.55 percent, with an average 0.7 point, dropping from last week’s 3.59 percent average. A year ago at this time, 30-year rates averaged 4.12 percent.
  • 15-year fixed-rate mortgages: averaged 2.86 percent, with an average 0.6 point, holding steady from last week’s average. A year ago, 15-year rates averaged 3.33 percent.
  • 5-year adjustable-rate mortgages: averaged 2.75 percent, with an average 0.7 point, dropping from last week’s 2.78 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.
  • 1-year ARMs: averaged 2.61 percent, with an average 0.4 point, falling from last week’s 2.63 percent average. A year ago, 1-year ARMs averaged 2.84 percent.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/09/07/mortgage-rates-hover-near-record-lows-week


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