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Fixed-Rates Rise Slightly, Remain Below Four Percent Mark

NationalMortgageProfessional.com
Dec 11, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates slightly up from the last week, but with the average 30-year fixed-rate averaging 3.93 percent with an average 0.5 point for the week ending Dec. 11, 2014, up from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 4.42 percent. The 15-year FRM this week averaged 3.20 percent with an average 0.5 point, up from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.43 percent. 

"Fixed mortgage rates rebounded this week with the 30-year fixed mortgage rate increasing to 3.93 percent after declining for four weeks in a row," Frank Nothaft, vice president and chief economist, Freddie Mac said. "The rate rise comes on the heels of an uplifting jobs report showing nonfarm payrolls adding 321,000 new jobs in November—91,000 more jobs than expected. The unemployment rate remained unchanged at 5.8 percent."

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week with an average 0.5 point, up from last week when it averaged 2.94 percent. A year ago, the five-year ARM averaged 2.94 percent. The one-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, down from last week when it averaged 2.41 percent. At this time last year, the one-year ARM averaged 2.51 percent.

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