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Fixed Term Rate Mortgages and Adjustable Rate Mortgages Lower

Fixed rate mortgages and adjustable rate mortgages were are lower in the most recent Primary Mortgage Market Survey released today by Freddie Mac. Conforming 30 year mortgage interest rates are averaging 4.71 percent with 0.8 mortgage discount points for the week ending January 13, 2011, a decline from the previous week’s average rate of 4.77 percent. 15 year conforming mortgage interest rates are averaging 4.08 percent with 0.7 points for the week ending January 13, 2011. In the previous week’s survey rates on 15 year mortgages averaged 4.13 percent.

5 year Treasury indexed adjustable mortgage loan rates averaged 3.72 percent for the week ending January 12, 2011, down from the previous week’s average 5 year adjustable home mortgage rate of 3.75 percent. Average mortgage discount points on 5 year adjustable home mortgages was 0.7 points, unchanged from the previous week’s average.



1 year U.S. Treasury indexed adjustable home loan rates averaged 3.23 percent for the week ending January 13, 2011, down from the prior week’s average 1 year adjustable home mortgage rate of 3.24 percent. Average mortgage points on 1 year adjustable home loans was 0.6 points, unchanged from the prior week’s average.
 
Author: Brian McKay
January 13th, 2011