HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little from last week to this, 3.11 percent to 3.13 percent. Last year’s average for this popular refinancing document was 4.1 percent. Five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 2.78%, a drop from 2.85% the prior week, and a decrease from 2.85% a year earlier. Treasury-indexed one-year adjustable rate mortgages (ARMs) averaged 2.81 percent, 2.80 percent last week and 3.22 percent last year.
(Image credit: BankRate)