Rates for 30-year home loans fell to a shade below 5 percent this week, but remained above last month’s record lows.
Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year FRM averaged 4.98 percent with an average 0.6 point for the week ending January 28, 2010, down slightly from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 5.10 percent.
Rates for 30-year loans had dropped to a record low of 4.71 percent in early December, pushed down by an aggressive government campaign to reduce consumers’ borrowing costs.
Primary Mortgage Market Survey [Freddie Mac]