Dennis Norman
According to Freddie Macs weekly mortgage market survey mortgage rates dropped this past week slightly from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.14% with 0.7% in fees and points,down from 5.20% the week before. This is the lowest rate reported in Freddie Mac’s survey for a 30 year fixed rate loan since May.
Rates on 15 year fixed-rate mortgages dropped very slightly as well,down to 4.63% from 4.69% the week before,5/1 ARM’s held about the same at 4.83% and 1 year ARM’s dropped from 4.82% to 4.78%.
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