Mortgage Rates Reverse Course

News Facts 30-year fixed-rate mortgage averaged 3.59 percent with an average 0.6 point for the week ending August 30, 2012, down from last week when it averaged 3.66 percent.

Last year at this time, the 30-year FRM averaged 4.22 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.78 percent this week with an average 0.6 point, down from last week when it averaged 2.80 percent.

A year ago, the 5-year ARM averaged 2.96 percent.

1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.4 point, down from last week when it averaged 2.66 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Source: Freddimac

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