Mortgage Rates still hoovering at all time lows

Fixed-mortgage rates held steady on mixed economic reports this past week, Freddie Mac said Thursday.

Still, fixed rates hovered near their 60-year lows. Freddie’s Primary Mortgage Market Survey showed the 30-year, fixed-rate mortgage averaging 4.11%, down from 4.12% a week earlier and 4.21% a year ago.

See below in Red. This is commonly missed by most people that there are points associated with the average rate in this survey.

In addition, the 15-year, FRM hit 3.38%, up slightly from 3.37% a week ago and down from 3.54% last year.

From Freddie Mac’s website:

October 20, 2011

Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.11 % 3.38 % 3.01 % 2.94 %
Fees & Points 0.8 0.8 0.6 0.6
Margin N/A N/A 2.74 2.76