- Predominately Filmed in WV "American West" Starts June 11 on AMC
- Manchin, Klobuchar, Shaheen, King, Heitkamp, Baldwin Introduce Budgeting for Opioid Addiction Treatment Act
- Detroit heroin dealer pleads guilty to Federal drug crime
- Carol Polan Likely Replacement Candidate for Husband
- Cannabis To Be Planted Legally in WV For The 1st time In 70 years
- Virginia Commonwealth University to explore yoga’s effect on pregnancy depression
- Huntington Council Hears First Reading on Planned Duplex
- State Film Office to Host Workforce Training Master Class June 25-26
- Tamarack to host Appalachian Music & Arts Festival
- Attorney General Morrisey to EPA: Halt Federal Spending on Clean Power Plan
FREDDIE MAC: Mortgage Rates Mixed: 30-Year FRM Averages 3.37 Percent, Near Record Low
The popular 30-year fixed-rate mortgage (FRM) averaged 3.37 percent with an average 0.7 point for the week ending December 20, 2012, up from last week when it averaged 3.32 percent. Last year at this time, the 30-year FRM averaged 3.91 percent.
The 15-year FRM this week averaged 2.65 percent with an average 0.7 point, down from last week when it averaged 2.66 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
"Mortgage rates were mixed this week following data reports on stable inflation and a thriving home construction market," said Freddie Mac's vice president and chief economist Frank Nothalf. "The 12-month growth in the core consumer price index has remained between 1.9 and 2.1 percent for the past five consecutive months ending in November. Meanwhile, housing starts averaged the strongest three months in November since September 2008, and homebuilder confidence rose in December to its highest reading since April 2008."
Adjustable rate mortgages were also mixed:
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.71 percent this week with an average 0.7 point, up from last week when it averaged 2.70 percent. A year ago, the 5-year ARM averaged 2.85 percent.
- 1-year Treasury-indexed ARM averaged 2.52 percent this week with an average 0.4 point, down from last week when it averaged 2.53. At this time last year, the 1-year ARM averaged 2.77 percent.
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.