30-Year Fixed-Rate Mortgage Matches All-Time Record Low at 3.94 Percent
December 15, 2011
Average fixed mortgage rates remained at or near their all-time lows, according to the latest Freddie Mac Primary Mortgage Market Survey.
The 30-year fixed matched the average all-time record low and a new all-time record low was set for the 15-year fixed, both previously set Oct. 6. The 5-year ARM also set a new all-time record low at 2.86 percent for the week.
The 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.8 point for the week ending Dec. 15, down from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.83 percent.
Meanwhile, the 15-year FRM this week averaged 3.21 percent with an average 0.8 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 4.17 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86 percent this week, with an average 0.6 point, down from last week when it averaged 2.93 percent. A year ago, the 5-year ARM averaged 3.77 percent.
The 1-year Treasury-indexed ARM averaged 2.81 percent this week with an average 0.6 point, up from last week when it averaged 2.80 percent. At this time last year, the 1-year ARM averaged 3.35 percent.