Mortgage rates stay low

by Francis Monfort27 Nov 2017
Mortgage rates fell slightly during the week ending Nov. 22 to remain at low levels, according to the Primary Mortgage Market Survey released by Freddie Mac.

Rates for the 30-year fixed-rate mortgage fell during the period to 3.92%, with an average 0.5 point, a decline from the 3.95% average in the previous period. The latest average is lower compared to the 4.03% average in the year-ago period.

The average rate for the 15-year fixed-rate mortgage was 3.32%, with an average 0.4 point, a slight increase from the 3.31% average in the prior period. The average rate also increased year-over-year from 3.25%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.22%, with an average 0.4 point, up from the previous average of 3.21%. A year ago at this time, the 5-year ARM averaged 3.12%.

"Rates dipped slightly in a short week leading up to the Thanksgiving holiday,” Freddie Mac chief economist Sean Becketti said. “The 10-year Treasury yield fell roughly 4 basis points, while the 30-year mortgage rate dropped 3 basis points to 3.92 percent. Mortgage rates continue to remain low."

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