Industry NewsMortgage

Pressure on mortgage rates eases

30-year fixed-rate falls for second time in eight weeks
Published on Jan 6, 2011

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by CareyBot

Mortgage rates eased this week, with rates on 30-year fixed-rate loans falling for only the second time in the last eight weeks, according to a weekly rate survey conducted by Freddie Mac.

Rates on 30-year fixed-rate mortgages averaged 4.77 percent with an average 0.8 point for the week ending Jan. 6, down from 4.86 percent last week and 5.09 percent a year ago. The 30-year fixed-rate mortgage hit a low in records dating back to 1971 of 4.17 percent during the week ending Nov. 11.

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