Mortgage rates held steady during the first full week of 2014, according to Freddie Mac's Primary Mortgage Market Survey.
For the week ending Jan. 9, the average rate for a 30-year, fixed-rate mortgage (FRM) was 4.51% – about a 0.7% increase compared to the week prior, when it averaged 4.53%. A year ago at this time, the 30-year FRM averaged 3.40%.
The average rate for a 15-year FRM was 3.56%, up about 0.6% from the week prior, when it averaged 3.55%. A year ago at this time, the 15-year FRM averaged 2.66%.
The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.15%, up about 0.4% compared to a week earlier, when it averaged 3.05%. A year ago, the five-year ARM averaged 2.67%.
The average rate for a one-year Treasury-indexed ARM was 2.56%, an increase of about 0.5%, compared to the week before, when it averaged 2.60%.
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