Freddie Mac Says Mortgage Rates Rebounded from Year-End Highs
Posted To: MND NewsWire
Mortgage interest rates declined slightly during the week, easing further off of the sudden increases in rates the last week of the year. Freddie Mac reported that the average rate for a 30-year fixed-rate (FRM) mortgage during the week ended January 14 was 5.06 percent with 0.7 point compared to 5.09 percent and 0.7 point a week earlier. During the week ended December 31 the rate had jumped 9 basis points to 5.24 percent. This week the 15-year FRM dropped five basis points to 4.45 percent with 0.6 point. During the week ended January 7, the average rate was 4.50 percent with 0.7 point. The 15-year had also experienced a surge between Christmas and New Year, rising 9 basis points to 4.54 percent. The weekly Primary Mortgage Market Survey reported that 5-year Treasury-indexed hybrid adjustable…(read more)
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