End-of-year mortgage rates remain below 4%

by Paul Wiseman, Associated Press

WASHINGTON (AP) – Jan. 5, 2015 – Average U.S. mortgage rates rose slightly last week, but the benchmark 30-year rate stayed near a 19-month low.

Mortgage giant Freddie Mac says the nationwide average for a 30-year fixed rate mortgage increased to 3.87 percent last week, up from 3.83 percent one week earlier. The rate hit 3.80 percent earlier in December, its lowest since May 2013.

The average for a 15-year mortgage also rose – to 3.15 percent from 3.10 a week earlier. The rate for a one-year adjustable-rate mortgage blipped up to 2.40 percent from 2.39 percent.

A year ago, the 30-year mortgage stood at 4.53 percent and the 15-year mortgage at 3.55 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to keep long-term rates low.

 

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