Online lending aggregator LendingTree said the average rate on its platform for a 30-year mortgage was 5.16% as of Dec. 28, down slightly from a week previous.
The lowest 30-year rate on LendingTree’s platform as of that date was about 4.63%. The average 15-year rate was also down slightly from the previous week but the rate for the so-called 5-1 ARM rose, according to the company.
The average weekly 15-year rate as of Dec. 28 was 4.46% and it was 4.07% for 5/1 ARMs. The lowest 15-year rate found on the platform was about 3.88% and the lowest 5/1 ARM rate was approximately 3.13%.
Some late-year volatility in rates that previously had been fairly consistently low and raised some questions as to whether loan application volumes might be affected. The Mortgage Bankers Association, which produces a closely-watched loan app survey most Wednesday mornings, closed its offices for the winter holiday break this week and as a result did not release one this Wednesday.
