Freddie Mac released the results of its Primary Mortgage Market Survey in late September showing average fixed mortgage rates moving lower amid signs of a weakening economic recovery, which in part also prompted the Federal Reserve (Fed) to continue its bond buying program. Mortgage rates have increased more than one percentage point since early May when speculation about Fed tapering began. The 30-year fixed-rate mortgage averaged 4.50 percent with an average 0.7 point for the week -- down from the previous week when it averaged 4.57 percent. A year ago at this time, the 30-year FRM averaged 3.49 percent. The 15-year FRM this week averaged 3.54 percent with an average 0.7 point, down from last week when it averaged 3.59 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
Posted on: Wed, 16 Oct 2013 18:03:18 +0000
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