Freddie Mac Mortgage Rates Report

Mortgage Rates Holding Steady...

Mortgage rates remained mostly unchanged throughout this past week, continuing a month long track of staying at their historical lows, Freddie Mac reported. "Mortgage rates have been stable, near record lows, for the past 4 weeks. Here’s a closer look at national averages for mortgage rates for the week ending February 21, according to Freddie Mac:

• 30-year fixed-rate mortgages: inched up to a 3.56 average this week, with an average 0.8 point, up from last week’s 3.53 percent. A year ago at this time, 30-year rates averaged 3.95 percent.
• 15-year fixed-rate mortgages: remained unchanged this week at 2.77 percent, with an average 0.8 point. Last year at this time, 15-year rates averaged 3.19 percent.
• 5-year adjustable-rate mortgages: averaged 2.64 percent, with an average 0.5 point, also holding the same as last week. Last year at this time, 5-year ARMs averaged 2.80 percent.
• 1-year ARMs: averaged 2.65 percent, with an average 0.4 point, up slightly from last week’s 2.61 percent average. Last year at this time, 1-year ARMs averaged 2.73 percent.

Read Full Article Here: Freddie Mac