Blog with Masonboro Realty

Mortgage Rates Hover Near Record Lows

October 13th, 2012 10:47 AM by Lori Speight

Mortgage rates held steady for the most part this week, remaining near all-time record lows set last week, Freddie Mac reports in its weekly market survey.

Here’s a closer look at national mortgage rate averages for the week ending Oct. 11.

  • 30-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.7 point, up slightly from last week’s record low of 3.36 percent. A year ago, 30-year rates averaged 4.12 percent.
  • 15-year fixed-rate mortgages: averaged 2.70 percent, with an average 0.6 point, up from last week’s record of 2.69 percent. Last year at this time, 15-year rates averaged 3.37 percent.
  • 5-year adjustable-rate mortgages: averaged 2.73 percent, with an average 0.6 point, inching up slightly from last week’s 2.72 percent average. A year ago, 5-year ARMs averaged 3.06 percent.
  • 1-year ARMs: averaged 2.59 percent, with an average 0.4 point, rising from last week’s 2.57 percent average. Last year at this time, 1-year ARMs averaged 2.90 percent.

Source: Freddie Mac

Posted in:General
Posted by Lori Speight on October 13th, 2012 10:47 AM

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