The 30-year fixed-rate mortgage averaged 3.87% with an average 0.6 point for the week ending December 31, 2014, up from the previous week when it averaged 3.83%. A year ago at this time, the 30-year mortgage averaged 4.53%
"While mortgage rates edged up… they remain near 2014 lows. Looking at full year data, the 30-year fixed-rate average for 2014 was 4.17%, the highest annual average since 2011,”said Frank Nothaft, vice president and chief economist, Freddie Mac.
The 15-year fixed-rate mortgage averaged 3.15% with an average 0.6 point during the last week of 2014, up from the previous when it averaged 3.1%. A year ago at this time, the 15-year mortgage averaged 3.55%.
While average fixed mortgage rates moved slightly higher during the last week of 2014, the average 30-year fixed-rate ended the year below 4%, according to Freddie Mac’s Primary Mortgage Market Survey.