Advertisement

Mortgage rates fall in week

WASHINGTON, Feb. 12 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell in the week ending Feb. 12, the Federal Home Loan Mortgage Corp. said Thursday.

The 30-year, fixed-rate mortgage averaged 5.16 percent with an average 0.7 points in the week, down from the previous week's 5.25 percent, Freddie Mac said.

Advertisement

A year ago, 30-year, fixed-rate mortgages averaged 5.72 percent.

At 4.81 percent with an average 0.7 points, the 15-year, fixed-rate average also declined, dropping from the previous week's average of 4.92 percent. A year ago, 15-year fixed-rate mortgages averaged 5.25 percent, the report said.

"Interest rates for 30-year fixed-rate mortgages are almost 1.5 percentage points below 2008's peak ... offering many homeowners an incentive to refinance," said Frank Nothaft, Freddie Mac vice president and chief economist.

Latest Headlines

Advertisement

Trending Stories

Advertisement

Follow Us

Advertisement