Freddie Mac: Mortgage Rates Down This Week

Posted by Orb Staff on August 31, 2012 No Comments
Categories : Residential Mortgage

12306_housingdecline Freddie Mac: Mortgage Rates Down This Week Mortgage rates declined for the week ending Aug. 30, according to new data released by Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.59% with an average 0.6 point for the week, down from last week when it averaged 3.66%. Last year at this time, the 30-year FRM averaged 4.22%.

The 15-year FRM averaged 2.86% with an average 0.6 point, down from last week when it averaged 2.89%. A year ago at this time, the 15-year FRM averaged 3.39%.Â

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.78% this week with an average 0.6 point, down from last week when it averaged 2.8%. A year ago, the five-year ARM averaged 2.96%.

The one-year Treasury-indexed ARM averaged 2.63% this week with an average 0.4 point, down from last week when it averaged 2.66%. At this time last year, the one-year ARM averaged 2.89%.

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