Fixed rate mortgage rates were unchanged this week according to Freddie Mac’s latest survey.

The average 30-year fixed mortgage rate was 4.37 percent with an average of 0.7 points.  Last week’s average rate was also 4.37 percent.  One year ago, the 30-year fixed mortgage rate was 5.04 percent.  

The average 15-year fixed mortgage rate was 3.82 percent with an average of 0.7 points.  This was also unchanged from last week. One year ago, the 15-year fixed mortgage rate was 4.46 percent.  

The 5/1 adjustable rate mortgage (ARM) averaged 3.54 percent this week, with an average of 0.6 points.  This is down just slightly from last week when the average was 3.55 percent.  One year ago, the average 5/1 ARM was 4.46 percent.  

With low inflation and a slowly recovering economy, there is little reason for rates to increase in the very near term.

 

Mortage rates hit new lows again this week due to expectations that inflation will remain low in the near term.

The 30-year fixed mortgage rate averaged 4.32 percent with an average of 0.7 points in this week’s Freddie Mac survey.  This was down from 4.36 percent last week.  One year ago, the rate was 5.08 percent.

The 15-year fixed mortgage rate averaged 3.83 percent with an average of 0.6 points.  This was down from 3.86 percent last week.  One year ago, the rate was 4.54 percent.

The 5/1 adjustable rate mortgage averaged 3.54 percent with an average of 0.6 points.  This was down from 3.56 percent last week.  One year ago, the rate was 4.59 percent.