Data released by Freddie Mac last week showed that mortgage rates remained little change during the last week of the year, amid mixed economic and housing data.
“Real GDP was revised upwards to 4.1 percent growth in the third quarter of this year,” Freddie Mac Chief Economist Frank Nothaft said. “However, existing-home sales dropped 4.3 percent to a seasonally adjusted annual rate of 4.9 million in November. Also, new home sales fell 2.1 percent to a seasonally adjusted annual rate of 464,000.”
The 30-year fixed-rate mortgage averaged 4.48 percent for the week ending Dec. 26, up from 4.47 percent the previous week. Last year, the 30-year FRM averaged 3.35 percent. The 15-year FRM averaged 3.52 percent last week, compared to 3.51 percent the week prior. The FRM averaged 2.65 percent last year.
The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged three percent, an increase from 2.96 percent the previous week. One year ago, the five-year ARM averaged 2.7 percent. The one-year ARM fell slightly from 2.57 percent for the week ending Dec. 19 to to 2.56 percent, remaining flat over the past year.