Freddie Mac: Average Weekly 30-Year Rate Is Back Below 5% Again

The average rate for a 30-year fixed-rate mortgage was back below 5% during the week ended Feb. 11, according to the Freddie Mac Primary Mortgage Market Survey. At 4.97%, "interest rates on 30-year fixed-rate mortgages are below 5% for a third week this year," said Freddie Mac's chief economist Frank Nothaft. This is down from 5.01% the previous week and from 5.16% last year. The average weekly rates for all other loans types commonly tracked by Freddie Mac also were down from the previous week, with the exception of one-year Treasury-indexed adjustable-rate mortgages. The one-year Treasury ARM rate rose to 4.33% during the week from 4.22% the previous week, but was down from 4.94% a year ago. The five-year Treasury hybrid ARM rate was 4.19%, down from 4.27% the previous week and 5.23% a year ago. The 15-year FRM rate was 4.34%, down from 4.40% the previous week and 5.23% a year ago. Average points were 0.7 for 30-year FRMs and 0.6 for the other three types of mortgages.