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|