2012’s last Primary Mortgage Market Survey® (PMMS®) results from Freddie Mac show average fixed mortgage rates finishing the year near record lows. This is helping to keep homebuyer affordability high. According to Frank Nothaft, Freddie Mac’s vice president and chief economist, “Rates on 30-year fixed mortgages were nearly 0.6 percentage points below that of the beginning of the year, which translates into an interest payment savings of nearly $98,600 over the life of a $200,000 loan.”
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.
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.
Freddie Mac’s weekly Primary Mortgage Market Survey® (PMMS®) results for Oct. 18 show fixed mortgage rates edging slightly lower with the 30-year fixed averaging 3.37 percent, just above its all-time record low of 3.36 percent, and the average 15-year fixed dipping to a new all-time record low at 2.66 percent.