Mortgage rates remain low
Mortgage rates dipped slightly this week, according to Freddie Mac.
The 30-year, fixed-rate mortgage was 3.34 percent for this week, down from 3.35 percent last week. A year ago the average rate as 3.91 percent.
“Mortgage rates started the year near record lows, which should continue to aid the ongoing housing recovery,” Freddie Mac Chief Economist Frank Nothaft said in a statement. “New home sales rose in November to a two-year high and were up 15.3 percent from the previous November. Similarly, pending sales on existing homes increased for the third month in November to the strongest pace since April 2010.”
The average 15-year, fixed-rate mortgage also decreased a tenth of a percentage point from 2.65 percent last week. A year ago this week, the 15-year rate was 3.23 percent.