Mortgage Rates Little Changed In Week
November 8, 2012 by UPI - United Press International, Inc.
WASHINGTON (UPI) — Fixed mortgage rates on long-term loans in the United States were mixed in the week that ended Thursday, the Federal Home Loan Mortgage Corp. said.
The average 30-year fixed mortgage interest rate rose from 3.39 percent to 3.4 percent with an average 0.7 points, Freddie Mac said.
A year earlier, interest rates for 30-year, fixed-rate loans were at 3.99 percent.
For 15-year loans, interest rates fell from 2.7 percent to 2.69 percent with an average 0.7 points. A year ago, 15-year loan rates averaged 3.3 percent.
Average interest rates for five-year adjustable-rate mortgages were down from 2.74 percent to 2.73 percent with 0.6 point. In the same week of 2011, rates for five-year ARM contracts stood at 2.98 percent.
The average interest rate for one-year ARM contracts climbed from 2.58 percent to 2.59 in the week with 0.4 points.
Rates a year ago for one-year ARM contracts averaged 2.95 percent.