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Nov 17

Mortgage Rates Still Near Yearly Lows

Mortgage Rates Still Near Yearly Lows

 

Mortgage Rates Still Near Yearly Lows. Image courtesy of  cooldesign / FreeDigitalPhotos.net

Mortgage Rates Still Near Yearly Lows. Image courtesy of cooldesign / FreeDigitalPhotos.net

The 30-year fixed-rate mortgage is hovering around 4 percent. This has been keeping borrowing costs low for refinances and home buyers for the last few weeks, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reported the following national averages for mortgage rates for the week ending Nov. 13:

  • 30-year fixed-rate mortgages averaged 4.01 percent, with an average 0.5 point, dropping from last week’s 4.02 percent. A year ago, 30-year rates averaged 4.35 percent.
  • 15-year fixed-rate mortgages averaged 3.2 percent, with an average 0.5 point, dropping from last week’s 3.21 percent average. Last year at this time, 15-year rates averaged 3.35 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.02 percent, with an average 0.5. point, rising from last week’s 2.97 percent average. A year ago, 5-year ARMs averaged 3.01 percent.
  • 1-year ARMs averaged 2.43 percent, with an average 0.4 point, dropping from last week’s 2.45 percent average. Last year at this time, 1-year ARMs averaged 2.61 percent.

Source: Freddie Mac

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