Mortgage Rates Reach New Record Lows
Daily Real Estate News | Friday, January 13, 2012
Mortgage rates were back to hitting record lows again, pushing housing affordability even higher to home buyers, Freddie Mac reports in its weekly mortgage market survey. For the sixth consecutive week, the 30-year fixed-rate mortgage, the most popular choice among buyers, has averaged below 4 percent — unheard of until a few weeks ago.
'Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market,” Frank Nothaft, chief economist at Freddie Mac, said in a statement. The economy added 1.6 million jobs in 2011 — the highest number since 2006 — but overall unemployment still remains high, Nothaft noted.
Here’s a closer look at rates and the new record lows they posted for the week ending Jan. 12:
30-year fixed-rate mortgages: averaged 3.89 percent, with an average 0.7 point, reaching a new all-time low. Previously, 30-year mortgages’ record low was last week’s 3.91 percent average. A year ago at this time, 30-year rates averaged 4.71 percent.
15-year fixed-rate mortgages: averaged 3.16 percent, with an average 0.8 point, dropping from last week’s 3.23 percent average. Last year at this time, 15-year rates averaged 4.08 percent.
5-year adjustable-rate mortgages: averaged 2.82 percent, with an average 0.7 point, dropping from last week’s 2.86 percent average. Last year at this time, 5-year ARMs averaged 3.72 percent.
1-year ARMs: averaged 2.76 percent, with an average 0.6 point, this week, falling from last week’s 2.80 percent average. A year ago, 1-year ARMs averaged 3.23 percent.
Source: Freddie Mac
Doug Spiers / Principal Broker
Blog Archive2017-10-13 11:57:01
4 Reasons to Sell This Fall
Best Long-Term Investment
No Matter Which Groundhog You Listen To...
Existing Home Sales Bounce Back
Real Estate News You Need to Know Wed. 12/9/15
2016 Home Prices and Rates?
2016 Home Prices?
New Home Sales Surge
30-Year Fixed Mortgage Rates Fall to 5-Month Low;
What you need to know today.
Rates Today July 22,2015
Mortgage Rates Hit 19-Month Low
30-Year Fixed Mortgage Rate Up From 19-Month Low;
30-Year Fixed Mortgage Rates Drop
Housing Market Looking Up
US housing recovery appears to be back on track
4 in 10 US households use cellphones only
Pending Home Sales Surge 6.1%
Pending Home Sales 4/28/14
30-year-mortgage rate rises to 4.35%
Fewer Late On Mortgage Payments = Housing Strength
Home prices along Utah's Wasatch Front
Salt Lake housing market looks for spring rebound
Click here to see ALL articles.