This article in the RealtorMag dated 11/14/2014, Mortgage Rates Still Near Yearly Lows, quotes Freddie Mac on last weeks mortgage rates …
The 30-year fixed-rate mortgage is hovering around 4 percent. This has been keeping borrowing costs low for refinancers and home buyers for the last few weeks, Freddie Mac reports in its weekly mortgage market survey.
- 30-year fixed-rate mortgages averaged 4.01 percent, with an average 0.5 point, dropping from last week’s 4.02 percent. A year ago, 30-year rates averaged 4.35 percent.
- 15-year fixed-rate mortgages averaged 3.2 percent, with an average 0.5 point, dropping from last week’s 3.21 percent average. Last year at this time, 15-year rates averaged 3.35 percent.
- 5-year hybrid adjustable-rate mortgages averaged 3.02 percent, with an average 0.5. point, rising from last week’s 2.97 percent average. A year ago, 5-year ARMs averaged 3.01 percent.
- 1-year ARMs averaged 2.43 percent, with an average 0.4 point, dropping from last week’s 2.45 percent average. Last year at this time, 1-year ARMs averaged 2.61 percent.
Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
Co-Host of “Finding New Neighbors” Cable TV Show