The 30-year, fixed-rate mortgage rate fell to 4.6% in the most recent Freddie Mac Primary Mortgage Market Survey, reaching a new low for 2011. That compares to a rate of 4.61% a week earlier and 4.84% last year. The 15-year, FRM followed suit, averaging 3.78%, down from 3.8% a week earlier and 4.21% last year. The 5-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 3.41%, down from a week earlier when it averaged 3.48% and down from 3.97% last year. Meanwhile, the 1-year, Treasury-indexed ARM averaged 3.11% in the most recent week, down from a week earlier when it averaged 3.15% “Fixed mortgage rates eased slightly for the sixth consecutive week amid reports of slower economic activity,” concluded Frank Nothaft, vice president and chief economist, Freddie Mac. Write to Kerri Panchuk.
Mortgage rates hit new lows for 2011
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