According to Freddie Mac, home buyers and refinancers may want to lock in their rates now. Fixed-rate mortgages inched higher for the second consecutive week amid a stronger employment report, according to Freddie Mac's weekly mortgage market survey.
Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 19:
30-year fixed-rate mortgages:averaged 3.76 percent, with an average 0.6 point, rising from last week’s 3.69 percent average. Last year at this time, 30-year rates averaged 4.33 percent.
15-year fixed-rate mortgages:averaged 3.05 percent, with an average 0.6 point, increasing from last week’s 2.99 percent average. A year ago, 15-year rates averaged 3.35 percent.
5-year hybrid adjustable-rate mortgages:averaged 2.97 percent, with an average 0.5 point, holding the same from last week. A year ago, 5-year ARMs averaged 3.08 percent.
1-year ARMs:averaged 2.45 percent, with an average 0.4 point, rising from last week’s 2.42 percent. A year ago, 1-year ARMs averaged 2.57 percent.
Author:Leah Wright - WA Buyer Specialist Phone: 360-949-3782 Dated: February 22nd 2015 Views: 690 About Leah Wright: Leah, an Arizona native, decided to make the beautiful Pacific Northwest her home in the winter of 2...
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