“While mortgage rates edged up this week, they remain near 2014 lows. Looking at full year data, the 30-year fixed-rate average for 2014 was 4.17 percent, the highest annual average since 2011,” said Frank Nothaft, vice president and chief economist for Freddie Mac. “Also, the Conference Board reported that confidence among consumers rose in December and the S&P/Case-Shiller. Seasonally-Adjusted National house price index rose 4.6 percent over the 12-months ending in October 2014.”
The 30-year fixed-rate mortgage averaged 3.87% this week, up from last week’s average of 3.83%. Last year at this time, the 30-year FRM averaged 4.53%.
The 15-year FRM averaged 3.15%, up from last week’s 3.10%. Last year, the 15-year FRM averaged 3.55%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage held steady at 3.01% this week. A year ago at this time, the 5-year ARM averaged 3.05%.
The 1-year ARM averaged 2.40% this week, up from last week’s average of 2.39%. Last year, the 1-year ARM averaged 2.56%.
While mortgage rates moved slightly higher this week, they still ended the year below 4%, according to new data from Freddie Mac.