Mortgage rates defied forecasts in 2014 by not inching up to 5 percent as predicted during the year. Instead, the 30-year fixed-rate mortgage is still hovering under 4 percent lows.
The 30-year fixed-rate mortgage, the most popular loan among home buyers, remained below 4 percent for every week except for two since Oct. 16.
30-year fixed-rate mortgages: averaged 3.87 percent, with an average 0.6 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 4.53 percent. The 30-year fixed-rate mortgage reached a record low on Nov. 21, 2012, when it averaged 3.31 percent.