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Rates Are Still Well Below Historical Average PDF Print E-mail
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 5.68% for the week ending Dec. 27, 2007, up from the previous week when it averaged 5.48%. Last year at this time, the 30-year FRM averaged 6.34 %. reinforcing the Fed's resolution to thwart a recession, the Federal Open Market Committee announced another cut in the target federal funds rate by half of a percentage point. This came after the Fed's rate cut of 3/4 of a percentage point the previous week, and the shaping-up of a fiscal stimulus package by Congress and the White House.

Mortgage Rates table
Source: Realty Times
U.S. averages as of January 31, 2008:
30 yr. fixed:   5.68%
15 yr. fixed:   5.17%
1 yr. adj:        5.05%
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