WASHINGTON – Long-term mortgage rates started the New Year in the same holding pattern they have had for months, remaining near all-time lows, according to Freddie Mac.

The average for the 30-year, fixed-rate mortgage dipped slightly from 3.35% to 3.34% at year end; while the average for the 15-year, fixed-rate loans slipped to 2.64% from 2.65%.

ARM rates also were little changed from record lows, with the average for the five-year ARM ticking up to 2.71% from 2.70% last week; and the average for the one-year ARM moving to 2.57% from 2.56%.

“Mortgage rates started the year near record lows, which should continue to aid the ongoing housing recovery,” said Frank Nothaft, chief economist for Freddie Mac.


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