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Fixed Rates Reach Record-Low Averages for 6th Consecutive Week

You are here: Home / Real Estate News / Fixed Rates Reach Record-Low Averages for 6th Consecutive Week

June 12, 2012 by David Garrett

As the employment situation continues to raise concerns, fixed rates fell even lower, slipping yet again to new record-lows, according to a survey from Freddie Mac released Thursday.  The 30-year fixed-rate mortgage averaged 3.67 percent (0.7 point) for the week ending June 7, falling from last week’s average of 3.75 percent. Last year at this time, the 30-year fixed was 4.49 percent. The 15-year fixed rate declined even further below 3 percent to 2.94 percent (0.7 point), down from last week’s 2.97 percent. A year ago at this time, the 15-year was 3.68 percent. The 5-year ARM remained unchanged from last week at 2.84 percent (0.7 point); a year ago, the 5-year ARM averaged 3.28 percent.  The 1-year ARM moved up to 2.79 percent (0.4 point), up from last week’s 2.75 percent. Last year, it averaged 2.95 percent.  Bankrate also released its survey on mortgage rates and reported record-low averages.  The 30-year fixed slipped to 3.92 percent,  down from last week when it averaged 3.94 percent. On the other hand, the 15-year fixed rose slightly to 3.16 percent from last week’s 3.15 percent.  The five-year fell to 2.99 percent from  3.01 percent last week.

Bankrate’s national survey uses data provided by the top 10 banks and thrifts in the top 10 markets.

 

Real Estate News Mortgage Rates,  Real Estate Financing

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Seisin Realty Group, Inc.

10300 Fourth Street #150
Rancho Cucamonga, Ca 91730
DRE LICENSE #01911957

Theresa - (909) 528-0843

theresa@seisinrgi.com

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