The WPJ
Residential Real Estate News
U.S. Mortgage Rates Remain Flat Over Christmas Holiday
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), U.S. fixed mortgage rates largely remained unchanged heading into the holiday weekend.
Sean Becketti, chief economist of Freddie Mac said, "Treasury yields dropped slightly as the holidays approach. Mortgage rates remain largely unchanged, with the 30-year mortgage rate ticking down a basis point to 3.96 percent. As we mentioned last week, long-term interest rates will not spike in response to the Federal funds rate increase. While we expect the 30-year mortgage rate to be above 4 percent in early 2016, we anticipate rates will gradually increase, averaging 4.4 percent for the year."
Freddie Mac News Facts
- 30-year fixed-rate mortgage (FRM) averaged 3.96 percent with an average 0.6 point for the week ending December 24, 2015, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 3.83 percent.
- 15-year FRM this week averaged 3.22 percent with an average 0.6 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.10 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.06 percent this week with an average 0.4 point, up from last week when it averaged 3.03 percent. A year ago, the 5-year ARM averaged 3.01 percent.
- 1-year Treasury-indexed ARM averaged 2.68 percent this week with an average 0.2 point, up from 2.67 percent last week. At this time last year, the 1-year ARM averaged 2.39 percent.
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