WASHINGTON–The 30-year, fixed-rate mortgage average has broken the 4.0% mark for the first time in five months.
According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year, fixed-rate mortgage (FRM) averaged 4.01% with an average 0.6 point for the week ending Dec. 31, 2015, up from one week earlier when it averaged 3.96%. At year-end 2014 the 30-year FRM averaged 3.87%.
Meanwhile, Freddie Mac reported the 15-year FRM averaged 3.24%, with an average 0.6 point, up from 3.22% one week earlier. At year-end 2014, the 15-year FRM averaged 3.15%.
Other data from the latest Primary Mortgage Market Survey:
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08% with an average 0.4 point. One year earlier the 5-year ARM averaged 3.01%.
- The 1-year Treasury-indexed ARM averaged 2.68% this week with an average 0.2 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.40%.