30-year Fixed-rate Mortgage Averages 3.88 Percent
January 19, 2012
Average mortgage rates changed little amid mixed economic data as the 30-year fixed-rate mortgage edged down slightly to a new all-time record low marking the seventh consecutive week below 4 percent, according to the Freddie Mac Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage (FRM) averaged 3.88 percent with an average 0.8 point for the week ending Jan. 19, down from last week when it averaged 3.89 percent. Last year at this time, the 30-year FRM averaged 4.74 percent.
Meanwhile, the 15-year FRM this week averaged 3.17 percent with an average 0.8 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.05 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, matching last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.69 percent.
The 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.6 point, down from last week when it averaged 2.76 percent. At this time last year, the 1-year ARM averaged 3.25 percent.