Mortgage rates start the year at all-time lows

According to data released Thursday by Freddie Mac, fixed-mortgage rates continue to hover near their all-time record lows, boosting home-buyer affordability and abetting the housing recovery.

The Primary Mortgage Market Survey showed 30-year fixed rates average 3.34% with an average 0.7 point for the week ending Jan. 3. That’s down from last week’s average of 3.35%. A year ago, the 30-year fixed rate mortgage (FRM) averaged 3.91%. 

Also, the 15-year FRM was down to an average 2.64%, with an average 0.7 point, down from last week when it averaged 2.65%. A year-ago, the 15-year FRM averaged 3.23%.