30-year fixed-rate mortgage: Averaged 5.85 percent down from last week when it averaged 5.87 percent. Last year at this time, the 30-year FRM averaged 6.16 percent.
15-year fixed-rate mortgage: Averaged 5.34 percent up from last week when it averaged 5.27 percent. A year ago at this time, the 15-year FRM averaged 5.86 percent.
Five-year Treasury-indexed hybrid ARMs: averaged 5.67 percent this week up from last week when it averaged 5.56 percent. A year ago, the 5-year ARM averaged 5.88 percent.
One-year Treasury-indexed ARMs: averaged 5.24 percent this week up from last week when it was 5.15 percent. At this time last year, the 1-year ARM averaged 5.43 percent
Can this low change year over year change the situation. i dont think so.....will the govt ask Freddie MAc to become the lender of last resort and buy all this bad paper that will not be helped by such small changes in the mortgage rates. If they can socialize the investment banker problem, then they should be able to help out the home owner.
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