Low Mortgage Rates Little Changed
Fixed mortgage rates showed little change this week and continued to hover near record lows, Freddie Mac reported Dec. 6 in its weekly Primary Mortgage Market Survey.
The 30-year fixed-rate rose 0.02 percentage points to 3.34 percent (down from 3.99 percent a year ago). The 15-year fixed-rate also increased by 0.03 percent points to 2.67 percent (down from 3.30 percent a year ago).
The one-year adjustable-rate mortgage fell 0.01 percent to 2.55 percent (down from 2.80 percent a year ago). The five-year Treasury-indexed adjustable-rate decreased 0.03 percentage points to 2.69 percent (down from 2.93 percent a year ago).
“Mortgage rates were little changed and near record lows this week amid indicators of stronger economic growth and signs of tame inflation,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a news release. “Third quarter real GDP growth was revised from an initial report of 2.0 percent to 2.7 percent, nearly matching the market consensus forecast. Meanwhile, the 12-month growth rate of the core price index of consumer expenditures remained at 1.7 percent in October, which is on the low end of the Federal Reserve's projection range for this year.”
View Freddie Mac’s weekly Primary Mortgage Market Survey.