Average 30-year FRM Rises

According to originationnews, for the week ending Dec. 20 Freddie Mac says the average rate for a 30 year fixed-rate mortgage (FRM) rose by five basis points to 3.37 percent while the average 15-year FRM dropped one point to 2.65 percent. The average rate for a five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) rose one point to 2.71 percent, while the-one year Treasury ARM dropped one point to 2.52 percent. As MHProNews has learned, one year ago the average 30-year FRM hit 3.91 percent, average 15-year FRMs were at 3.21 percent, five-year Treasury-indexed hybrids averaged 2.85 percent and one-year Treasury ARMs were 2.77 percent.

(Image credit: bankrate)

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