Thursday, October 18, 2012

Freddie Mac: Mortgage Rates Near Record Lows


Freddie Mac's weekly Primary Mortgage Market Survey -- released October 18 -- shows average fixed mortgage rates edging slightly higher while remaining near their all-time record lows.

  • 30-Year fixed rate mortgage averaged 3.37% (just above its all-time record low of 3.36%) down from 3.39% last week, down from 4.11% one year ago

  • 15-Year fixed rate mortgage averaged 2.66%, up from 2.70% last week and 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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