Average 30-Year Freddie Mac Rate Matches Record Low

The average Freddie Mac rate for a 30-year fixed-rate mortgage has matched a record low last seen earlier this year. The average FRM rate during the holiday-shortened week ended Nov. 25 was 4.78%, down from 4.83% a week ago and the lowest it has been since the week ending April 30. A year ago, the average 30-year FRM rate was 5.97%. The average 15-year FRM rate in the latest week continued to breach lows never before seen in the history of Freddie's rate survey of this particular product, which started in 1991. The average 15-year FRM rate was 4.29%, down from 4.31% the previous week and 5.74% a year ago. The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage also dropped to its lowest point since Freddie started tracking it. Freddie first began tracking this product in 2005. In the latest week, the five-year Treasury hybrid fell to 4.18% from 4.25% a week ago and 5.86% a year ago. The one-year Treasury ARM remained unchanged in the latest week at 4.35%, a low that before the previous week one would have had to go back to July 7, 2005 to beat (at that time, it was 4.33%). A year ago, the average one-year Treasury ARM rate was 5.18%. Average points were as follows: 0.7 for 30-year FRMs and one-year ARMs and 0.6 for the other two aforementioned products.