National average mortgage rates for 30 year fixed loans have remained almost unchanged for three weeks in a row now, chalking up a total of 52 weeks under the important 5% mark, according to Freddie Mac.
In the latest data to be released via Freddie Mac’s weekly market survey, the national average for the 30 year fixed rate mortgage stood at 3.87% for the week closing 16th February – identical to the all-time record low hit a fortnight previously.
The results also indicate that the same loan has now come in under 4% as a national average for 11 weeks in a row.
15 year fixed rate loans have also shown no movement, coming out this week at the same 3.16% as last week.
The same week in 2011 saw 15 year fixed rate mortgages coming out with a national average of 4.27%, while the standard 30 year loan was at an even 5% flat.
Mixed results were noted in relation to national averages on adjustable rate mortgages, with standard 5/1 ARM rates dropping fractionally from 2.83% to 2.82% compared to the week prior, while 1/1 ARM rose from 2.78% to 2.84%.
Many of the incredibly low national averages have directly contributed to a number of significant increases in overall US mortgage application volumes for the first time in 2012.
However, with the situation in Europe perhaps reaching stability at last, investor shifts may see mortgage rates once again moving away from the current record lows once and for all.