For any Buyer hesitating to buy or Seller waiting to list DON T!!! Rates are still great for buying and Selling! Monday Morning REALTOR® Keeping You Connected Monday, January 5, 2014 MORTGAGE MARKET Rates Never Rose as Predicted Despite early 2014 predictions, mortgage rates never passed 5 percent as expected. Instead, rates have remained under 4 percent lows with the exception of just two weeks since October. This week, rates inched up slightly however they still remain near 2014 lows. Freddie Mac reports the following national averages for the week ending Dec. 31, 2014: 30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.6 point, rising from last weeks 3.83 percent average. Last year at this time, 30-year rates averaged 4.53 percent. The 30-year fixed-rate mortgage reached a record low on Nov. 21, 2012, when it averaged 3.31 percent. 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.6 point, rising from last weeks 3.10 percent average. A year ago, 15-year rates averaged 3.55 percent. 5-year hybrid adjustable-rate mortgages: averaged 3.01 percent, with an average 0.5 point, holding the same average as last week. Last year at this time, 5-year ARMs averaged 3.05 percent. 1-year ARMs: averaged 2.40 percent, with an average 0.4 point, rising from last weeks 2.39 percent average. A year ago, 1-year ARMs averaged 2.56 percent.
Posted on: Tue, 06 Jan 2015 20:19:57 +0000
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