Average 30-Year Fixed-Rate Mortgage Up From All-Time Record Low
|February 23, 2012|
Fixed mortgage rates moving off their at- or-near record lows for the first time in three weeks amid recent data showing the housing market continues to improve.
According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.8 point for the week ending Feb. 23, up from last week when it also averaged 3.87 percent. Last year at this time, the 30-year FRM averaged 4.95 percent.
Meanwhile, the 15-year FRM this week averaged 3.19 percent with an average 0.8 point, up from last week when it also averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.22 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent this week, with an average 0.7 point, down from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.80 percent.
The 1-year Treasury-indexed ARM averaged 2.73 percent this week with an average 0.6 point, down from last week when it averaged 2.84 percent. At this time last year, the 1-year ARM averaged 3.40 percent.