Mortgage Rates Virtually Unchanged

Fixed mortgage rates remained virtually unchanged near their record lows from last week, according to the results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) released on Nov. 29. The 30-year fixed-rate mortgage has averaged below 4.00 percent all but one week in 2012, while the 15-year fixed-rate mortgage has averaged below 3.00 percent since the last week in May.

Mortgage Rates Hovering Low

Freddie Mac’s Nov. 8 release of its Primary Mortgage Market Survey® (PMMS®) results showed fixed mortgage rates continuing to hover near their record lows over the past six weeks.  Last year at this time, the 30-year fixed-rate mortgage averaged 3.99 percent, dropping below 4.00 percent for the first time since Freddie Mac started reporting its weekly mortgage rates survey in 1971.

Mortgage Rates Edge Up From Record Lows

The results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) released on Oct. 11 showed average fixed mortgage rates moving slightly higher from their all-time record lows.  For example, the 30-year fixed-rate mortgage (FRM) averaged 3.39 percent, up from 3.36 percent last week.  A year ago, the 30-year FRM averaged 4.12 percent.