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.