The WPJ
Residential Real Estate News
Mortgage Rates in U.S. Uptick in December
Freddie Mac's latest Primary Mortgage Market Survey (PMMS) is reporting average fixed mortgage rates moved slightly up from the last week, but with the average 30-year fixed-rate mortgage remaining below four percent.
Frank Nothaft, Freddie Mac's chief economist said, "Fixed mortgage rates rebounded this week with the 30-year fixed mortgage rate increasing to 3.93 percent after declining for four weeks in a row. The rate rise comes on the heels of an uplifting jobs report showing nonfarm payrolls adding 321,000 new jobs in November -- 91,000 more jobs than expected. The unemployment rate remained unchanged at 5.8 percent."
Freddie Mac Report Facts:
- 30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.5 point for the week ending December 11, 2014, up from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 4.42 percent.
- 15-year FRM this week averaged 3.20 percent with an average 0.5 point, up from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.43 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week with an average 0.5 point, up from last week when it averaged 2.94 percent. A year ago, the 5-year ARM averaged 2.94 percent.
- 1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, down from last week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.51 percent.
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