2015 at Mortgage Interest Rates Start New Lows said Jeff Adams

The New Year (2015) is starting with a gift to home buyers: lower-than-expected Mortgage interest rates.

The 30-year fixed-rate mortgage averaged 3.73%, the lowly it’s been since May 2013, according to the FMPM Market Survey. Through the last week of Dec 2014, the rate averaged 3.87%. It was as high as 4.51% one year ago at this time.

Mortgage rates fell to begin the year as ten-year Treasury yields slid beneath 2% for the first time in 3 months, said vice president at Freddie FMPM.

The 15-year fixed-rate mortgage averaged 3.05% this week, down from 3.15% last week and 3.56% a year ago this time.

The same, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.98% this week, down from 3.01% last week. It was 3.15% last year this time. 

The one-year Treasury-indexed ARM averaged 2.39% this week, down from 2.40% last week. At this time last year, it averaged 2.56%. 

The popular of experts polled believe rates will go on this downward trend. According to the Mortgage Rate Trend Index, 55% rates will fall and 36% rates will rise. The remaining 9% rates will remain unchanged.