Thursday, February 12, 2015

Freddie Mac: 30 Year Mortgage Rates increase to 3.69% in Latest Weekly Survey

by Bill McBride on 2/12/2015 02:10:00 PM

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. ...

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.
Mortgage rates Click on graph for larger image.

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.