Mortgage Rates Start the Year Below Four Percent

Mortgage Rates Start the Year Below Four Percent

MCLEAN, VA--(Marketwired - Jan 7, 2016) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates mixed with the 30-year fixed-rate falling back below four percent to start the year.

News Facts

30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending January 7, 2016, down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM averaged 3.73 percent.

15-year FRM this week averaged 3.26 percent with an average 0.5 point, up from 3.24 percent last week. A year ago at this time, the 15-year FRM averaged 3.05 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent this week with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago, the 5-year ARM averaged 2.98 percent.