By Amy Hoak, MarketWatch
The 30-year fixed-rate mortgage averaged 3.87% for the week ending Feb. 2, down from 3.98% last week and 4.81% a year ago, according to Freddie Mac’s weekly survey of conforming mortgage rates.
Fifteen-year fixed-rate mortgages averaged 3.14%, down from 3.24% last week and 4.08% a year ago.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage also hit a record low, averaging 2.8% this week, down from 2.85% last week and 3.69% a year ago.
But 1-year Treasury-indexed ARMs headed in the other direction, averaging 2.76%, up from 2.74% last week. The mortgage averaged 3.26% a year ago.
To obtain the rates, the fixed-rate mortgages required payment of an average 0.8 point, the 5-year ARM required an average 0.7 point and the 1-year ARM required an average 0.6 point. A point is 1 ...
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