November 9, 2012 (Shirley Allen)
Mortgage interest rates held steady from the previous week with no one category shifting more than one basis point up or down from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending November 8th.
Fixed Rate Mortgages:
Interest rates on fixed rate mortgages were mixed with the 30-year fixed rate averaging 3.40 percent with an average of 0.7 points, up from an average of 3.39 percent last week. It was the 33rd consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 3.99 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 and Southeastern areas of the country.
The 15-year fixed rate mortgage averaged 2.69 percent with an average of 0.7 points, down from an average of 2.70 percent last week. Mortgage rates for the 15-year fixed mortgage have been under three percent for 23 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.30 percent.
Adjustable Rate Mortgages:
Interest rates for adjustable-rate mortgages were also mixed with the 5-year Treasury-indexed hybrid ARM averaging 2.73 percent, with an average of 0.6 points, down from an average of 2.74 the previous week. The 5-year adjustable rate mortgage averaged 2.98 percent a year earlier.
The 1-year Treasury-indexed adjustable rate mortgage averaged 2.59 percent with an average of 0.4 points, up from 2.58 percent last week. A year ago, the 1-year adjustable rate mortgage averaged 2.95 percent.
|30-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.7||0.6||0.7||0.6||0.8||0.8|
|15-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.7||0.6||0.7||0.6||0.7||0.7|
|5/1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.6||0.6||0.7||0.7||0.7||0.5|
|1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.4||0.5||0.5||0.3||0.4||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||0.7||0.8||0.6||0.6||0.7||0.7||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