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Mortgage rates finish year near historic lows
December 29, 2011 4:19 PM

McLean-based Freddie Mac says average fixed mortgage rates are finishing 2011 near their all-time lows.

The mortgage giant said the standard 30-year, fixed-rate mortgage averaged 3.95 percent in its latest Primary Mortgage Market Survey.

The 30-year fixed has been at or below 4 percent for the past nine consecutive weeks. Only twice during 2011 did the average rise above 5 percent.

The latest 3.95 percent average was up from last week when it averaged 3.91 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 4.86 percent.

The 15-year fixed-rate mortgage rates averaged 3.24 percent this week, up from last week when it averaged 3.21 percent. A year ago at this time, the 15-year rate averaged 4.20 percent.

The 5-year, Treasury-indexed, hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week, up from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.77 percent.

The 1-year, Treasury-indexed ARM averaged 2.78 percent this week, up from last week when it averaged 2.77 percent. At this time last year, the 1-year ARM averaged 3.26 percent.


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