Mortgage rates mostly remain unchanged this week from last week, staying low and keeping home buyer affordability high, Freddie Mac reports in its mortgage market survey.
"Mortgage rates were flat to down a little this week amid reports that inflation remains contained,” says Frank Nothaft, Freddie Mac’s chief economist.
Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 17:
- 30-year fixed-rate mortgages: averaged 3.38 percent, with an average 0.7 point, dropping from last week’s 3.40 average. A year ago at this time, 30-year rates averaged 3.88 percent. The record low for 30-year rates is 3.31 percent, set on Nov. 21, 2012.
- 15-year fixed-rate mortgages: averaged 2.66 percent, with an average 0.7 point, holding the same as last week. Last year at this time, 15-year rates averaged 3.17 percent.
- 5-year adjustable-rate mortgages: averaged 2.67 percent, with an average 0.6 point, holding the same as last week. Last year at this time, 5-year ARMs averaged 2.82 percent.
- 1-year ARMs: averaged 2.57 percent, with an average 0.4 point, dropping from last week’s 2.60 percent average. Last year at this time, 1-year ARMs averaged 2.74 percent.
Source: Freddie Mac
Home prices are beginning to rebound with some areas increasing from 3% to 16% over the past 12 months. If you have not done an accurate check of your homes value in the past year, our FREE On-Line Home Value Analysis tool allows you to see exactly what your home value is doing.It’s not a guess or Zestimate like Zillow. These are actual Sold, Pending and Active prices. You can also see what home inventory levels area doing, closed sale price vs asking price and more! Click Here to get the report emailed to you.
It’s not a guess or Zestimate like Zillow. These are actual Sold, Pending and Active prices. You can also see what home inventory levels area doing, Closed Sale price vs/ Asking Price and more!
It's absolutely FREE and there is no obligation. Fill out the form HERE to receive a real time MLS report on active and sold home in your area.