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Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: Feb 9, 2021

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Mortgage loan interest rates showed mixed results this week according to Freddie Mac’s recent survey.

The 30-year fixed-rate mortgage (FRM) averaged 3.37 percent with an average 0.7 point for the week ending Dec. 20, 2012. The rate is up from last week when it averaged 3.32 percent. At this time last year, the 30-year FRM averaged 3.91 percent.

If a borrower took out a $150,000 home loan at today’s mortgage loan interest rate of 3.37 percent, his or her monthly payment would be $662.73. After 30 years, he or she would pay a total of $238,582.80. If the borrower took the same mortgage out one year ago when mortgage loan interest rates were 3.91 percent, they would pay $708.36 monthly, for a 30-year total cost of $255,009.60. Using the current mortgage loan interest rate, rather than last year’s rate, the borrower would save $16,426.80.

The 15-year fixed-rate mortgage averaged 2.65 percent with an average 0.7 point, down from last week’s average of 2.66 percent. A year ago, the 15-year fixed mortgage interest rate averaged 3.21 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.71 percent with an average of 0.7 point this week. It is up from last week when it averaged 2.70 percent. Last year at this time, the 5-year ARM averaged 2.85 percent.

The 1-year Treasury-indexed ARM averaged 2.52 percent with an average 0.4 point, down from last week’s average of 2.53 percent. A year ago, the 1-year adjustable-rate mortgage averaged 2.77 percent.

“Mortgage rates were mixed this week following data reports on stable inflation and a thriving home construction market,” Frank Nothaft, Freddie Mac vice president and chief economist, said in a press release. “The 12-month growth in the core consumer price index has remained between 1.9 and 2.1 percent for the past five consecutive months ending in November. Meanwhile, housing starts averaged the strongest three months in November since September 2008, and homebuilder confidence rose in December to its highest reading since April 2008.”

Nothaft said that 2013 will bring even more changes for the housing industry.

Freddie Mac, a provider of stability and liquidity for the United States’ residential mortgage markets, conducts surveys weekly to assess four types of mortgage loan interest rates.