Industry NewsMortgage

30-year fixed dips below 5%

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Rates on 30-year fixed-rate mortgages averaged 4.97 percent with an average of 0.7 point this week, down from 5.01 percent a week ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments. Borrowers taking out loans too large or risky for purchase or guarantee by Freddie Mac can expect to pay more.Freddie Mac said the 15-year fixed-rate mortgage averaged 4.34 percent with an average 0.6 point for the week ending Feb. 11, down from 4.4 percent last week and 4.81 percent a year ago.The 5-year treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 4.19 percent this week, with an average 0.6 point, down from 4.27 percent last week and 5.23 percent a year ago.The 1-year Treasury-indexed ARM averaged 4.33 percent this week with an average 0.6 point, up from 4.22 percent last week but down from 4.94 percent a year ago.In December, the 30-year fixe...