Thursday, November 8, 2012

Freddie Mac: Mortgage Rates Settle in Near Record Lows

Freddie Mac's weekly Primary Mortgage Market Survey -- released November 8 -- show fixed mortgage rates mixed following the monthly employment report but continuing to hover near their record lows over the past six weeks.

  • 30-Year fixed rate mortgage averaged 3.40%, up from 3.39% last week, down from 3.99% one year ago

  • 15-Year fixed rate mortgage averaged 2.69%, down from 2.70% 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.

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