(January 25, 2013) Interest rates on fixed rate mortgages moved higher this week while interest rates on adjustable loans were unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 24th.
Fixed Rate Mortgages:
Interest rates on fixed rate mortgages climbed higher this week with the 30-year fixed rate averaging 3.42 percent with an average of 0.7 points, up from last week’s average rate of 3.38 percent. It was the 44th consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 3.98 percent.
Average 30-year rates were generally the lowest in the Western portion of the United States where mortgage rates averaged 3.40 percent while the highest rates were reported in the Northeastern area of the country where interest rates averaged 3.45 percent.
The 15-year fixed rate mortgage averaged 2.71 percent this week with an average of 0.7 points, up from last week’s average rate of 2.66 percent. Mortgage rates for the 15-year fixed mortgage have been under three percent for 35 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.24 percent.
Adjustable Rate Mortgages:
Interest rates for adjustable-rate mortgages were unchanged from last week with the 5-year Treasury-indexed hybrid ARM averaging 2.67 percent, with an average of 0.5 points, the same rate as last week. The 5-year adjustable rate mortgage averaged 2.85 percent a year earlier.
The 1-year Treasury-indexed adjustable rate mortgage averaged 2.57 percent with an average of 0.4 points, also matching the average rate from last week. A year ago, the 1-year adjustable rate mortgage averaged 2.74 percent.
|30-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.7||0.6||0.7||0.7||0.7||0.7|
|15-Year Fixed Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.7||0.6||0.7||0.6||0.7||0.7|
|5/1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.5||0.5||0.7||0.5||0.6||0.6|
|1-Year Adjustable Rate Mortgages||US||NE||SE||NC||SW||W|
|Fees & Points||0.5||0.6||0.5||0.7||0.4||0.3|
|The National Mortgage Rate Snapshot||One Year Ago||One Week Ago|
|30-YR||15-YR||5/1-YR||1-YR ARM||30-YR||15-YR||5/1-YR||1-YR ARM|
|Fees & Points||0.7||0.8||0.7||0.6||0.7||0.7||0.6||0.4|
Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates, 5-year hybrid, 1-year treasury
Reported by Shirley Allen