Thursday, October 25, 2012

Freddie Mac: Mortgage Rates Move Slightly Higher

Freddie Mac's weekly Primary Mortgage Market Survey -- released October 24 -- shows average fixed mortgage rates moving slightly higher while continuing to remain near their all-time lows helping to support the housing market.
  • 30-Year fixed rate mortgage averaged 3.41%, up from 3.37% last week, down from 4.10% one year ago

  • 15-Year fixed rate mortgage averaged 2.72%, up from 2.66% last week, down from 3.38% 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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