Rates on conforming, 30-year, fixed-rated mortgages (FRM) averaged 3.91 percent, with an average 0.7 point, the week ending Dec. 22, 2011, a new all-time low, down from the last week’s record low 3.94 percent.
According Freddie Mac’s weekly Primary Mortgage Market Survey the 30-year FRM was 4.81 percent last year at this time.
Freddie Mac said rates on adjustable rate mortgages (ARM) also hit new all-time lows in this week’s survey.
Also at a new record low, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week, with an average 0.6 point, down from last week’s average and previous record low, 2.86 percent. The 5-year ARM averaged 3.75 percent a year ago.
Finally, for the week ending Dec. 22, Freddie Mac reported the 1-year Treasury-indexed ARM averaged a record low 2.77 percent, with an average 0.6 point, down from 2.81 percent last week and 3.40 percent last year at this time.