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Washington
30- 15-year mortgage rates hold steady Freddie Mac
WASHINGTON (10/7/11)--Average rates on 30- and 15-year fixed rate mortgages held steady this week and remained near recent all-time lows, Freddie Mac reported. Thirty-year mortgages averaged 4.11% this week, 4.12% last week, and 4.21% this time last year. Fifteen-year mortgages averaged 3.38% this week, 3.37% last week, and 3.64% this time last year. Thirty- and fifteen-year mortgages reached record lows of 3.94 % and 3.26%, respectively, in the first week of October. Freddie Mac Chief Economist Frank Nothaft said the mortgage rate stability was tied to mixed economic reports that were released this week. Five-year Treasury indexed hybrid adjustable-rate mortgages (ARMs) fell during the week, averaging 3.01%. Last week's total was 3.06%. However, one-year Treasury-indexed ARMs increased slightly this week, averaging 2.94%. Those ARMs averaged 2.9% last week. For the full release, use the resource link.
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