Freddie Mac: Mortgage Rates Remain Steady

Nov 22, 2017

Mortgage rates recorded mixed results in the latest Primary Mortgage Market Survey (PMMS) released by Freddie Mac.

The 30-year fixed-rate mortgage (FRM) averaged 3.92 percent for the week ending Nov. 22, down from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 4.03 percent.

However, the 15-year FRM this week averaged 3.32 percent, up from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.25 percent.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week, up from last week when it averaged 3.21 percent. A year ago at this time, the five-year ARM averaged 3.12 percent.

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

About the author

Phil Hall

Link copied

Published

Nov 22, 2017

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...