Fixed Mortgage Rates Move Higher

January 24, 2013January 12, 2022

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages rose for the week ending January 24, 2013. The average 30-year fixed rate mortgage rose to 3.42 percent – from last week’s average of 3.38 percent. Last year at this time the 30-year FRM averaged 3.98 percent.

15-Year Fixed Rate Mortgages

Average 15-year fixed rate mortgages averaged 2.71 percent, up from last week when it averaged 2.66. Last year at this time, the 15-year FRM averaged 3.24 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) stayed at 2.67 percent. A year ago, the 5-year ARM averaged 2.85 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM also held steady at 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:

“Fixed mortgage rates were up slightly over the holiday week but remain highly affordable and should continue to aid in the ongoing housing recovery. For instance, existing home sales totaled 4.65 million in 2012, showing a 9.2 percent increase over 2011 and the strongest pace in five years. In addition, the Federal Housing Finance Agency’s purchase-only house price index rose 5.7 percent over the 12 months ending in November 2012, marking the largest annual increase since June 2006.”

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.

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