30-Year Fixed Rate Mortgages
According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages moved lower for the week ending February 28, 2013. The average 30-year fixed rate mortgage fell to 3.51 from 3.56 percent last week. Last year at this time the 30-year FRM averaged 3.90 percent.
15-Year Fixed Rate Mortgages
Average 15-year fixed rate mortgages averaged 2.76 percent, down slightly from last week when the average was 2.77 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) fell to 2.61 percent from 2.64 percent last week. A year ago, the 5-year ARM averaged 2.83 percent.
1-Year Adjustable Rate Mortgages
The average one-year Treasury-indexed ARM was down this week to 3.64 percent from 2.65 percent last week. Last year at this time, the 1-year ARM averaged 2.72 percent.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac:
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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