Mortgage Rates End Year Near 2014 Lows

Freddie Mac released the results of its Primary Mortgage Market Survey today, showing that while average fixed mortgage rates move slightly higher this week, the average 30-year fixed-rate mortgage ends the year below four percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 3.87 percent with an average 0.6 point for the week ending December 31, 2014, up from last week when it averaged 3.83 percent. A year ago at this time, the 30-year FRM averaged 4.53 percent.
• 15-year FRM this week averaged 3.15 percent with an average 0.6 point, up from last week when it averaged 3.10 percent. A year ago at this time, the 15-year FRM averaged 3.55 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.05 percent.
• 1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, up from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.56 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac:

“While mortgage rates edged up this week, they remain near 2014 lows. Looking at full year data, the 30-year fixed-rate average for 2014 was 4.17 percent, the highest annual average since 2011. Also, the Conference Board reported that confidence among consumers rose in December and the S&P/Case-Shiller Seasonally-Adjusted National house price index rose 4.6 percent over the 12-months ending in October 2014.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com

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