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MORTGAGE RATES FINISH 2011 NEAR HISTORIC LOWS

Posted on December 29, 2011
 

Freddie Mac just released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates finishing the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95%, the 30-year fixed has been at or below 4.00% for the past nine consecutive weeks and only twice in 2011did it average above 5.00%.

30-year fixed Rate:   Last year at this time, the 30-year FRM averaged 4.86%.

 15-year fixed Rates: This week averaged 3.24% with an average 0.8 point. A year ago at this time, the 15-year FRM averaged 4.20 percent.  

Pending Sales: Nationally, pending Home Sales rose 7.3% in November. This is the highest level in 19 months

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