Mortgage Rates Up A Bit But Remain Below 4%

We have seen about  four weeks of decreases in mortgage rates and now the 30-year fixed-rate mortgage moved up a bit this week but stayed near yearly lows under  4 percent as per Freddie Mac's weekly mortgage market survey.

Freddie Mac reported the following national averages with mortgage rates for the week ending Dec. 11:

    30-year fixed-rate mortgages averaged 3.93 percent, with an average 0.5 point, rising from last week’s 3.89 percent average. Last year at this time, 30-year rates averaged 4.42 percent.

    15-year fixed-rate mortgages averaged 3.20 percent, with an average 0.5 point, rising from last week’s 3.10 percent average. A year ago, 15-year rates averaged 3.43 percent.

    5-year hybrid adjustable-rate mortgages averaged 2.98 percent, with an average 0.5 point, rising from last week’s 2.94 percent average. Last year at this time, 5-year ARMs averaged 2.94 percent.

    1-year ARMs averaged 2.40 percent, with an average 0.4 point, dropping slightly from last week’s 2.41 percent average. A year ago, 1-year ARMs averaged 2.51 percent.