Mortgage rates held steady for the most part the week ending October 11, 2012, remaining near all-time record lows set the previous week, Freddie Mac reported in its weekly market survey.
Here’s a closer look at national mortgage rate averages for the week ending October 11, 2012.
- 30-year fixed-rate mortgages: averaged 3.39%, with an average 0.7 point, up slightly from the previous week’s record low of 3.36%. A year ago, 30-year rates averaged 4.12%
- 15-year fixed-rate mortgages: averaged 2.70%, with an average 0.6 point, up from the previous week’s record of 2.69%. Last year at this time, 15-year rates averaged 3.37%.
- 5-year adjustable-rate mortgages: averaged 2.73%, with an average 0.6 point, inching up slightly from the previous week’s 2.72% average. A year ago, 5-year ARMs averaged 3.06%.
- 1-year ARMs: averaged 2.59%, with an average 0.4 point, rising from the previous week’s 2.57% average. Last year at this time, 1-year ARMs averaged 2.90%.
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Source: Freddie Mac Vivianne Rutkowski