Average weekly fixed rates for mortgages inched up a bit but are still ending the year near their all-time historic lows, according to Freddie Mac.
The average rate for a 30-year fixed-rate mortgage rose by 4 basis points, to 3.95%, while the average 15-year FRM rate increased by 3 basis points, to 3.24%, during the week that ended Dec. 29.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage was 3 basis points higher at 2.88% and the average one-year Treasury ARM rate was just a basis point more than it was the previous week at 2.78%.
Average points were 0.7 of a point for 30-year FRMs, 0.8 of a point for 15-year FRMs and 0.6 of a point for five-year Treasury hybrids and one-year Treasury ARMs.
A year ago, average rates were 4.86% for a 30-year mortgage; 4.2% for a 15-year mortgage; 3.77% for a five-year Treasury hybrid; and 3.26% for a one-year Treasury ARM.
