Industry NewsMortgage

Mortgage rates hardly budge from historic lows

Purchase loan demand sags, but still up 7 percent from year ago
Published on Oct 25, 2012

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by CareyBot

Rates on the most popular mortgage loans -- those with fixed rates -- moved up slightly this week but remained near historic lows, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgage averaged 3.41 percent with an average 0.7 point for the week ending Oct. 25, up from 3.37 percent last week but down from 4.1 percent a year ago. Rates for 30-year fixed-rate loans hit an all-time low in Freddie Mac records dating to 1971 of 3.36 percent during the week ending Oct. 4.

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