Mortgage Interest Rates Near Record Lows Again
It’s still great news for those looking to buy in the near future; mortgage interest rates are still at near record lows. Housing is very affordable right now. Here’s the latest from the Primary Mortgage Market Survey:
In Freddie Mac’s results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending November 25, 2011, down from last week when it averaged 4.00 percent. Last year at this time, the 30-year FRM averaged 4.40 percent.15-year FRM this week averaged 3.30 percent with an average 0.7 point, down from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.77 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 2.91 percent this week, with an average 0.6 point, down from last week when it averaged 2.97 percent. A year ago, the 5-year ARM averaged 3.45 percent.1-year Treasury-indexed ARM averaged 2.79 percent this week with an average 0.6 point, down from last week when it averaged 2.98 percent. At this time last year, the 1-year ARM averaged 3.23 percent.
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