by Bill McBride on 2/12/2015 02:10:00 PM
Thursday, February 12, 2015
From Freddie Mac today: Mortgage Rates Move Higher on Strong Jobs Report
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving higher amid a strong employment report. Regardless, fixed-rate mortgages rates still remain near their May 23, 2013 lows. ...Click on graph for larger image.
30-year fixed-rate mortgage (FRM) averaged 3.69 percent with an average 0.6 point for the week ending February 12, 2015, up from last week when it averaged 3.59 percent. A year ago at this time, the 30-year FRM averaged 4.28 percent.
15-year FRM this week averaged 2.99 percent with an average 0.6 point, up from last week when it averaged 2.92 percent. A year ago at this time, the 15-year FRM averaged 3.33 percent.
This graph shows the 30 year and 15 year fixed rate mortgage interest rates from the Freddie Mac Primary Mortgage Market Survey®.
30 year mortgage rates are up a little (34 bps) from the all time low of 3.35% in late 2012, but down from 4.28% a year ago.
The Freddie Mac survey started in 1971. Mortgage rates were below 5% back in the 1950s.
Posted by Bill McBride on 2/12/2015 02:10:00 PM