Daily Real Estate News | Friday, August 12, 2016
Average fixed-rate mortgages remained near historic lows this week, keeping financing costs lower for home shoppers and home owners looking to refinance. Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 11:
- 30-year fixed-rate mortgages: averaged 3.45 percent, with an average 0.5 point, rising from last week’s 3.43 percent average. Last year at this time, 30-year rates averaged 3.94 percent.
- 15-year fixed-rate mortgages: averaged 2.76 percent, with an average 0.5 point, increasing from last week’s 2.74 percent average. A year ago, 15-year rates averaged 3.17 percent.
- 5-year hybrid adjustable-rate mortgages: averaged 2.74 percent, with an average 0.5 point, increasing from last week’s 2.73 percent average. A year ago, 5-year ARMs averaged 2.93 percent.
Source: Freddie Mac