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Mortgage Rates Hold Steady

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages held fairly steady for the week ending January 17, 2013. The average 30-year fixed rate mortgage fell slightly to 3.38 percent – from last week’s average of 3.40 percent. Last year at this time the 30-year FRM averaged 3.88 percent.

15-Year Fixed Rate Mortgages

Average 15-year fixed rate mortgages stayed at 2.66 percent. Last year at this time, the 15-year FRM averaged 3.17 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) also stayed at 2.67 percent. A year ago, the 5-year ARM averaged 2.82 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM fell back to 2.57 percent. Last year at this time, the 1-year ARM averaged 2.74 percent.

Contact a licensed mortgage loan professional to take advantage of these record low mortgage rates. Find a loan officer near you.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac:

“Mortgage rates were flat to down a little this week amid reports that inflation remains contained. The overall producer price index rose 0.1 percent between November and December, below the market consensus forecast, and the consumer price index was unchanged. For the year as a whole, consumer prices rose just 1.7 percent in 2012, almost half that of 2011’s increase of 3.0 percent.”

Original Source: Freddie Mac Interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

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