Industry NewsMortgage

No pressure on mortgage rates as Fed continues easing

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Mortgage rates remained at or near record lows this week as the Federal Reserve signaled that measures designed to keep a lid on interest rates will remain in place for some time to come.Rates on 30-year fixed-rate mortgages averaged 3.32 percent with an average 0.7 point for the week ending Dec. 13, down from 3.34 percent last week and 3.94 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates on 30-year fixed-rate loans hit a low in Freddie Mac records dating to 1971 of 3.31 percent during the week ending Nov. 21.For 15-year fixed-rate mortgages, rates averaged 2.66 percent with an average 0.6 point, down from 2.67 percent last week and 3.21 percent a year ago. Rates on 15-year fixed-rate loans hit a low in Freddie Mac records dating to 1991 of 2.63 percent during the week ending Nov. 21.Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.7 percent with an average 0.6 point, up from 2.6...