Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac
30-year fixed-rate mortgage:
The 15-year fixed-rate mortgage:
Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 4.15 percent with an average 0.7 point, down from last week when it averaged 4.22 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.
One-year Treasury-indexed ARMs: averaged 3.72 percent this week, with an average 0.6 point , down from last week when it averaged 3.8 percent. A year ago, the 5-year ARM averaged 4.11 percent. Freddie Sayz
However, housing demand still remains weak. New home sales in January were near record lows dating back to 1963 when the data began, according to the Census Bureau Similarly, pending sales of existing homes fell for the second consecutive month in January, according to the National Association of Realtors
Attributed to Frank Nothaft, vice president and chief economist, Freddie MacMortgage rates saw an overall improvement this week. Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this years high set just three weeks ago. This means that homebuyers could now expect to pay $263 less per year on a $200,000 loan
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