Average rates on 30-year fixed mortgages slip below 5 percent this week
Rates on 30-year fixed mortgages fell slightly this week, dipping below 5 percent, the mortgage financier
The average rate on a 30-year fixed mortgage was 4.97 percent this week, down from an average of 5.01 percent last week. Last year at this time, the rate for a 30-year fixed mortgage averaged 5.16 percent,
Rates fell to a record low of 4.71 percent in early December. They have held around 5 percent thanks to a
Low rates also can spur refinancing activity. More than two out of three mortgage applications were for refinance transactions over the first six weeks of this year, according to the
The average rate on 15-year fixed-rate mortgages fell to 4.34 percent from 4.40 percent last week, according to
Rates on five-year, adjustable-rate mortgages averaged 4.19 percent, down from 4.27 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.33 percent from 4.22 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in