Thursday, August 23, 2012

Fixed Mortgage Rates Move Higher For Fourth Consecutive Week

Freddie Mac's weekly Primary Mortgage Market Survey -- released August 23 -- shows fixed mortgage rates following long-term Treasury yields higher amid continued positive data on the housing market. This marks the fourth straight week of fixed mortgage rates gradually moving higher.

  • 30-Year fixed rate mortgage averaged 3.66% -- up from 3.62% last week, down from 4.22% one year ago

  • 15-Year fixed rate mortgage averaged 2.89% -- up from 2.88% last week, down from 3.44% one year ago

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

To compare and track average mortgage rates from previous weeks throughout the year consult Freddie Mac's Compilation of Weekly Survey Data for 2012.

Mortgage calculators to compare payments and equity:

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

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