Mortgage Rates End Year Near Record Lows
Mortgage LoanFixed-rate mortgages ended the year by hovering near record-breaking lows and keeping home buyer affordability high, Freddie Mac reports in its weekly mortgage market survey. βThe 30-year fixed-rate mortgage averaged 3.66 percent for 2012, the lowest annual average in at least 65 years,β says Frank Nothaft, Freddie Macβs chief economist. βRates on 30-year fixed mortgages were nearly 0.6 percentage points below that of the beginning of the year, which translates into an interest payment savings of nearly $98,600 over the […]