30-Year Fixed-Rate Mortgage Interest Rates Decline 5th Consecutive Week

Freddie Mac PMMS 02-06-14For the fifth consecutive week, the average 30-year fixed-rate mortgage interest rate has declined according to Freddie Mac’s weekly Primary Mortgage Market Survey (PMMS). This week’s survey reported the average 30-year fixed-rate mortgage interest rate at 4.23%, declining from 4.32% in last week’s survey. A year ago this week, the average 30-year fixed-rate mortgage interest rate was 3.53%. 

All of the other interest rates tracked in the PMMS also declined this week. Fifteen-year fixed-rate mortgage interest rates averaged at 3.33% this week, down from 3.40% the prior week. Five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) interest rates averaged 3.12% last week, but were 3.08% this week. Finally, 1-year Treasury-indexed ARM mortgage interest rates averaged 2.51% this week, but were down from last week when they averaged 2.55%. Compared to the same time last year, 1-year Treasury-indexed ARM mortgage interest rates remained flat averaging at 2.53%. http://bit.ly/1bwSRuz

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