Mortgage rates remain low, flat

mortgagerates

Rates on conforming 30-year, fixed-rated mortgages (FRM) at an average 4.10 percent, the week ending Oct. 27, 2011, were relatively unchanged from 4.11 percent last week.

The average 30-year rate came with an average 0.8 percent point. The rate was 4.23 percent a year ago, according Freddie Mac’s weekly Primary Mortgage Market Survey.

The average on the 15-year fixed rate, often used by home owners refinancing their mortgage, remained at the same 3.38 percent average from a week ago, but with a lower average 0.7 point. The rate 3.64 percent a year ago

“The latest monthly housing market indicators were mixed, with consumer confidence soft, house prices largely flat, and new home sales up from very low levels,” said Frank Nothaft, vice president and chief economist, Freddie Mac.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent this week, with an average 0.5 point, up from last week’s 3.01 percent average. The 5-year ARM averaged 3.41 percent a year ago.

Freddie Mac reported the 1-year Treasury-indexed ARM averaged 2.94 percent, unchanged from last week. It came with an average. 0.6 point. The 1-year ARM averaged 3.30 percent last year at this time.

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