US mortgage rates hit 7-month high but annual average at historic low

posted by
December 30, 2010
Boston Herald    
Posted in News

"The 30-year fixed rate mortgage has reached its highest level in seven months, according to Freddie Mac. Interest rates on the most popular mortgage averaged 4.86 percent for the week ending Dec. 30, up from 4.81 percent last week. A year ago at this time, the 30-year rate averaged 5.14 percent. ... 'For the year as a whole, 30-year fixed mortgage rates averaged just below 4.7 percent, which represented the lowest annual average since 1955, when the average price of a home was $22,000' [said said Frank Nothaft, chief economist at Freddie Mac]." (12/30/10)  

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