2012 ends with lowest average rates in 65 yearsDecember 28, 2012 @ 8:21 am
The average rate on a 30-year fixed mortgage last week dipped closer to the lowest rates on record.
Freddie Mac, a company that purchases mortgages, reported the average rate on a 30-year loan declined to 3.35 percent from 3.37 percent last week. That's not far from the 3.31 percent rate of about a month ago, the lowest on records dating to 1971.
The average on the 15-year fixed mortgage was unchanged at 2.65 percent. The record low is 2.63 percent.
The 30-year fixed mortgage rate averaged 3.66 percent this year, Freddie Mac reported, the lowest annual average in 65 years.
Frank Nothaft, chief economist at Freddie Mac, said the average 30-year rate has fallen 0.6 percentage points this year. That would save a homeowner about $98,000 in interest payments over the life of a $200,000 loan, he said.
No Longer 'Angry'
Seahawk Doug Baldwin says he isn't angry; he's passionate, lonely, and domestic
Dave Ross envisioned an Imperial Directive saying borders are open, but that didn't happen
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.