Mortgage Rates End Year Near Record Lows
December 29, 2011 by UPI - United Press International, Inc.
WASHINGTON, Dec. 29 (UPI) — The average fixed mortgage held close to historic lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.
The 30-year fixed rate rose slightly off an all-time low of 3.91 percent in the previous week to 3.95 with 0.7 points, Freddie Mac said.
The 15-year fixed rate rose from a record low of 3.21 percent to 3.24 percent with 0.8 points.
Five-year adjustable rate mortgages averaged 2.88 percent for the week, coming off a record low of 2.77 percent from the previous week, Freddie Mac said.
“It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board,” said Frank Nothaft, Freddie Mac vice president and chief economist.