Freddie Mac: Mortgage rates hold steady; 30-year fixed at 3.55%

September 13, 2012|By E. Scott Reckard
  • Freddie Mac, based in this Virginia building, says mortgage rates held steady this week.
Freddie Mac, based in this Virginia building, says mortgage rates held… (Freddie Mac )

Mortgage rates were on hold this week near-record lows, with lenders offering the 30-year fixed-rate home loan at an average 3.55% for the second straight week, according to Freddie Mac's latest survey.

The McLean, Va., mortgage finance company said the typical rate for a 15-year loan edged down to 2.85% from 2.86%.

Start rates for adjustable mortgages were mixed, with loans fixed for the first five years falling from 2.75% to 2.72% and the one-year adjustable holding steady at 2.61%.

Freddie Mac asks lenders each week about popular combinations of rates and fees they are offering to people with good credit who want to borrow no more than 80% of the home's appraised value.

The company said that in the latest survey the borrowers would have paid an average of 0.6% of the loan amount in lender fees and points for the fixed-rate loans and the five-year adjustable, and 0.4% upfront for the one-year adjustable. The survey doesn't include third-party costs such as appraisals and title insurance.

The Freddie Mac weekly survey of 30-year fixed mortgage rates dates back to 1971. It set a record low of 3.49% in July.

US 30 Year Mortgage Rate Chart

US 30 Year Mortgage Rate data by YCharts


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