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Freddie Mac recently released the results of its Primary Mortgage Market Survey, showing average fixed mortgage rates finishing the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95%, the 30-year fixed has been at or below 4.00% for the past nine consecutive weeks and only twice in 2011 did it average above 5.00%.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
It’s not surprising then that over 5% of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”