October 26, 2012 (Shirley Allen)
Interest rates on fixed rate mortgages moved higher this week while rates on adjustable mortgages essentially stayed at the same levels as the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending October 18th.
Fixed Rate Mortgages:
Interest rates on fixed rate mortgages climbed higher with the 30-year fixed rate averaging 3.41 percent with an average of 0.7 points, up from an average of 3.37 percent last week. It was the 31st consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 4.10 percent.
Average 30-year rates remained the lowest in the Western portion of the United States while the highest rates were reported in the Northeastern areas of the country.
The 15-year fixed rate mortgage averaged 2.72 percent with an average of 0.6 points, up from an average of 2.66 percent last week. Mortgage rates for the 15-year fixed mortgage have been under three percent for 21 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.36 percent.
Adjustable Rate Mortgages:
Interest rates for adjustable-rate mortgages remained at or were near their previous week’s average with the 5-year Treasury-indexed hybrid ARM averaging 2.75 percent, with an average of 0.6 points, unchanged from the previous week. The 5-year adjustable rate mortgage averaged 3.08 percent a year earlier.
The 1-year Treasury-indexed adjustable rate mortgage averaged 2.59 percent with an average of 0.4 points, down from 2.60 percent last week. A year ago, the 1-year adjustable rate mortgage averaged 2.90 percent.
|30-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.7||0.6||0.7||0.7||0.7||0.8|
|15-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.6||0.6||0.6||0.6||0.6||0.7|
|5/1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.6||0.6||0.7||0.5||0.7||0.6|
|1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.4||0.6||0.4||0.4||0.3||0.3|
|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|
|Fees & Points||0.8||0.7||0.5||0.6||0.7||0.6||0.6||0.4|
Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates, 5-year hybrid, 1-year treasury