Mortgage rates are in a holding pattern
While the markets fret about the Federal Reserve’s December rate meeting, mortgage rates continue to show little movement.
Freddie Mac’s (OTC: FMCC) weekly rate report says a 30-year fixed-rate mortgage averaged 3.95 percent in the week ending Dec. 10, up just lightly from 3.93 percent last week. A year ago, 30-year rates averaged 3.93 percent.
EnlargeFreddie Mac's weekly rate report shows average rates on 30-year mortgages were little… more
PATRICK T. FALLON
A 15-year fixed-rate mortgage averaged 3.19 percent this week, up from 3.16 percent. A one-year adjustable-rate mortgage averaged 2.64 percent, up from 2.61 percent.
Thirty-year rates in the Northeast and Southeast were slightly higher, averaging 3.98 percent this week.
The lowest rates are in the West, where 30-year rates averaged 3.92 percent this week.
Jeff Clabaugh covers general assignment and provides business coverage for WTOP.
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