Industry NewsMortgage

Mortgage rates rebound from all-time lows

Cost of borrowing still well below historic norms
Published on Dec 29, 2011

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by CareyBot

Mortgage rates surveyed by Freddie Mac bounced back from historic lows this week, but aren't expected to soar in the New Year.

Rates on 30-year fixed-rate mortgages averaged 3.95 percent with an average 0.7 point for the week ending Dec. 29. That's up from 3.91 percent last week -- an all-time low in records dating to 1971 -- but still well below the 2011 high of 5.05 percent seen in February.