In Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates finished up the year near record lows, helping to keep homebuyer affordability high. The 30-year fixed eased slightly this week to average 3.35 percent, while the 15-year fixed remained unchanged at 2.65 percent.
According to Frank Nothaft, vice president and chief economist, Freddie Mac:
"Mortgage rates ended this year near record lows. The 30-year fixed-rate mortgage averaged 3.66 percent for 2012, the lowest annual average in at least 65 years. Rates on 30-year fixed mortgages were nearly 0.6 percentage points below that of the beginning of the year, which translates into an interest payment savings of nearly $98,600 over the life of a $200,000 loan. Moreover, opting for a 15-year fixed mortgage at today's rates, a homeowner could save an additional $138,400 in interest payments."