Thursday, September 13, 2012

Freddie Mac: Mortgage Rates Holding Steady

Freddie Mac's weekly Primary Mortgage Market Survey -- released September 12 -- shows fixed mortgage rates holding steady from the previous week, remaining near their all-time lows.

The average 30-year fixed-rate mortgage has been below 4.00% all but once this year and the average 15-year fixed, a popular choice among refinance borrowers, has been below 3.00% since the last week in May.

  • 30-Year fixed rate mortgage averaged 3.55%, same as last week and down from 4.09% one year ago

  • 15-Year fixed rate mortgage averaged 2.85%, down from 2.86% last week and 3.30% 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.

No comments:

Post a Comment